Thyssenkrupp: Foundation signals support for restructuring
by David Fleschen
The Krupp Foundation has signaled support for the course set by CEO Guido Kerkhoff during the reorganization of the steel and industrial group, according to Geman state television ARD. Kerkhoff wants to split the company into two parts.
"Under the conditions of globalized financial markets and technological changes, nobody can guarantee the existence of a company in its current structure," said Foundation President Ursula Gather on Thursday. With a share of around 21 percent, the foundation is the largest single shareholder of the conglomerate.
source: ARD, photo: fotoalia