💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Thyssenkrupp's supervisory board backs CEO's IPO strategy

Published 05/21/2019, 11:34 AM
Updated 05/21/2019, 11:35 AM
© Reuters. A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen
TKAG
-

FRANKFURT (Reuters) - Thyssenkrupp's supervisory board on Tuesday said it unanimously approved Chief Executive Guido Kerkhoff's overhaul strategy, including a plan to list its prized elevators unit, the conglomerate said.

"We have agreed that the executive board will now work out the concrete plans and begin the implementation," Thyssenkrupp (DE:TKAG) Supervisory Board Chairwoman Martina Merz said in a statement following a meeting of the company's directors.

"As the Supervisory Board, we are convinced that the Executive Board is on the right track with the new strategy."

© Reuters. A logo of Thyssenkrupp AG is pictured at the company's headquarters in Essen

Earlier this month, Thyssenkrupp's CEO said the steel-to-submarines conglomerate would embark on a new round of restructuring, including exploring a stock market listing for its elevators business.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.