Thyssenkrupp’s CEO, Miguel Lopez, has called for increased efforts from employees to regain investor trust and protect jobs, as the German conglomerate moves ahead with its restructuring plan. Lopez expressed concern over the company’s recent share price downturn, which has seen a 5% decrease since he took over as CEO in June and a 10% slump over the last two months.
He added that the stock exchange and financial market must be rekindled to become more enthusiastic about Thyssenkrupp. He emphasized the need to meet investors in the US this week to discuss restructuring and company plans further.
Thyssenkrupp, known for being one of Europe’s largest steel manufacturers, has been delaying efforts to divide its steel and marine divisions which have been taking a toll on the company’s overall stock performance. However, the company successfully listed its hydrogen business, Nucera, last year.
Redoubling Efforts to Reinstate Thyssenkrupp’s Share Price
In an internal message to employees, Thyssenkrupp’s CEO, Miguel Lopez, has urged the company to redouble its efforts to regain investor trust and support to secure jobs and investments in the long term. The company is restructuring its business model amid slumping share prices and consistent delays in divesting its steel and marine divisions.
Lopez has called for employees to work in unison and create a vertically integrated division while actively engaging with US investors to rekindle financial market enthusiasm. The CEO expressed that it is critical to garner shareholder confidence, give them a reason to invest in Thyssenkrupp and maintain job security.
Hydrogen Business Proves Successful for Thyssenkrupp
German conglomerate Thyssenkrupp overcame weakness in its share price last year after it successfully listed its hydrogen business, Nucera, which was an essential part of the restructuring strategy. However, the company has struggled to divest other divisions, such as steel and marine, leading to continued stock market weakness.
Thyssenkrupp CEO Miguel Lopez has emphasized that successful engagement with investors in the US is an important part of regaining investor trust and protecting jobs and investment in the long term. The company is restructuring its model and working towards creating a vertically integrated division, and employees are urged to work together towards these goals.
