Thyssenkrupp Faces Investor Pressure Over Crisis and Restructuring Plans

Shareholders criticize leadership and demand decisive action as the German industrial giant struggles with financial losses and a declining stock price.

• Thyssenkrupp reported a €1.4 billion loss for the 2023/24 fiscal year, driven by restructuring costs and weak economic conditions.
• The company plans to cut 5,000 jobs and spin off 6,000 more as part of a restructuring of its steel division, aiming to avoid forced layoffs where possible.
• CEO Miguel López defended the current strategy during the annual shareholder meeting, emphasizing the need for long-term renewal and profitability for the company.
• Shareholders expressed frustration over a 50% drop in the stock price and criticized the lack of clear progress on restructuring plans.
• CFO Jens Schulte partially waived a controversial signing bonus following backlash from investors, reflecting heightened scrutiny of executive compensation.

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