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LPNEWS

Thyssenkrupp Boss Defends Breakup As Scepticism Persists

by reuters.com posted 2weeks ago 21 views
* Shares close up 2.7 pct at top of DAX (Adds voting result on new chairwoman, updates shares): BOCHUM, Germany (Reuters) - Thyssenkrupp boss Guido Kerkhoff sought on Friday to drum up support among small shareholders for a plan to break up the steel-to-elevators group, facing criticism about the lack of concrete details over how the move will lead to better results. Kerkhoff, who became chief executive after a tumultuous summer that saw the resignation of both the CEO and chairman, is planning to spin off Thyssenkrupp’s elevators, car parts and plant engineering units to become more efficient.