August 9, 2018 / 9:53 AM / 9 months ago

Thyssenkrupp CEO says has mandate to keep group as conglomerate

FILE PHOTO: A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen/File Photo

FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp (TKAG.DE) Chief Executive Guido Kerkhoff, which took the helm of the group after the sudden departure of Heinrich Hiesinger last month, on Thursday said he has a clear mandate to develop the company in its current form.

The sprawling steel-to-elevators group has been subject to break-up speculation for months, with investors calling for a spin-off, listing or sale of some of its units, most notably its elevators and materials trading division.

In a call with journalists following the publication of quarterly results and new mid-term targets, Kerkhoff said he had the supervisory board’s backing to continue the group’s current strategic path for now, “with all businesses under one roof”.

Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Maria Sheahan

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