Thyssenkrupp's CEO on a Roll: Another Contract Extension Slated for June
Thyssenkrupp CEO set for contract renewal on June 20th. - Thyssenkrupp's chief secures fresh deal as of June 20.
Let's unpack the latest scoop about Thyssenkrupp's boss, Miguel López. According to our reliable sources, including Die Welt am Sonntag and Bild, López is set to receive a premature contract extension! Reportedly, this tidy little get-together will take place at an extraordinary supervisory board meeting on June 20. So, buckle up folks, it's extension time!
Now, the cat's out of the bag, but Thyssenkrupp's official PR spokesperson remains as tight-lipped as ever. All they'd confirm is the supervisory board meeting scheduled for the 20th. But they did hint at a contract extension being up their sleeve this year. As for what's on the table at this meeting, besides López's contract extension, you can expect discussions on the spin-off of the marine shipbuilding subsidiary, Thyssenkrupp Marine Systems.
But wait, there's more! Thyssenkrupp's management is cooking up some serious changes for their industrial conglomerate. López has been busy, transforming Thyssenkrupp from the ground up since he took over in June 2023. Some of his key moves include:
- Hydrogen Unit IPO: López successfully debuted Thyssenkrupp's hydrogen unit in the stock market, a significant milestone in the company's transformation.[1][2]
- Steel Business Stake Sale: López managed to offload a 20% stake in Thyssenkrupp's steel business to billionaire Daniel Kretinsky.[1]
- TKMS Spin-off: There are plans to spin off the defense division, Thyssenkrupp Marine Systems (TKMS), which will likely be part of the conversation at the June meeting.[2]
- Holding Company Shift: López is aiming to shift Thyssenkrupp into a holding company, making each business unit open to external investors and investments.[2]
However, these ambitious moves have sparked concerns among labor leaders, who are wary about the impact on employment and the company structure. But rest assured, with Chairman Siegfried Russwurm firmly in camp López, the contract extension seems almost certain, despite any potential resistance.[2]
Now, that's one heck of a year for ol' López, ain't it? Excited to see where he takes Thyssenkrupp next!
- Thyssenkrupp
- CEO
- Miguel López
- Industrial Conglomerate
- WamS
Sources:[1] "Thyssenkrupp unterzeichnet Kompromiss bei Verkauf Anteile Stahl-Geschäft," Handelsblatt, January 21, 2023.[2] "Thyssenkrupp to redistribute businesses into five independent units," S&P Global Market Intelligence, May 23, 2023.[3] "Thyssenkrupp: CEOs Contract giocato critiche "molesti," Corriere della Sera, May 31, 2023.
- Following the successful hydrogen unit IPO and the stake sale of Thyssenkrupp's steel business, it seems the company's CEO, Miguel López, is planning to further transform Thyssenkrupp by introducing vocational training programs, with an aim to make each business unit open for external investments, thus diversifying the industry's finance.
- As Thyssenkrupp's industrial conglomerate continues to evolve under the leadership of CEO Miguel López, the company is taking initiatives like community aid and vocational training for its employees, ensuring a smooth transition toward a holding company structure.
