BOCHUM (dpa-AFX) - Thyssenkrupp CEO Miguel López advocated for the transformation of the historic conglomerate during the annual general meeting. "For a long time, Thyssenkrupp was managed as an integrated industrial group," López told around 500 shareholders. Strategic decisions were made at the headquarters in Essen. "In the future, Thyssenkrupp AG will become a financial holding company — an investment group that principally unites majority stakes in strong, independent companies under one roof."

The segments will be gradually guided towards independence. This will mean more flexibility, greater speed, and direct access to the capital markets. "In doing so, we are unlocking value that has so far remained hidden within the company," López said.

Thyssenkrupp employs over 93,000 people

Thyssenkrupp operates in five segments: naval shipbuilding, steel, automotive parts, materials, and green technologies. At the end of September, the company employed just over 93,000 people.

Implementation of the new strategy, known as "Aces 2030," has already begun. Last autumn, Thyssenkrupp took its marine division TKMS public. The company is now listed on the MDax stock index, just like its parent company. Talks are underway regarding the steel segment with Indian steel group Jindal Steel about a possible takeover. "We are engaged in constructive discussions with Jindal Steel," López said. He did not provide further details.

Shareholder representatives: "Confidence has returned"

Shareholder representatives voiced positive opinions about the company's development. "Trust is back, confidence has returned," said Oliver Vollbrecht of the German Association for the Protection of Securities Ownership (DSW). "We trust you, but never blindly," said Daniel Voss from the Association for the Protection of Capital Investors.

Ingo Speich from the investment company Deka Investment called for Thyssenkrupp to be further dismantled and for complexity to be reduced. "The capital market will reward this. Even though there has been significant progress, this cannot be the end. We want a lean business model and a reduction of further holdings in the foreseeable future."

IG Metall calls for dividend waiver

Before the start of the general meeting, several hundred employees demonstrated outside the event hall, urging shareholders to forgo a dividend. "After the recent IPO of the marine division, shareholders have already benefited above average. Now to pay out a dividend from the company's substance would be economically wrong and send a disastrous signal," read a flyer from IG Metall.

Shareholders are set to receive a dividend of 15 cents per share. In total, the company plans to distribute 93 million euros. Some shareholder representatives also rejected the plans: "Paying a dividend comes at the expense of the company's substance," said Speich. Thyssenkrupp has been living off its substance for years. "This must finally come to an end."

HKM employees demonstrate for social collective agreement

Employees from Duisburg-based steel producer HKM, which faces an uncertain future, also took part in the demonstration. "We finally want a social collective agreement," said works council head Marco Gasse. HKM is a joint venture of steel companies Thyssenkrupp Steel, Salzgitter, and Vallourec, and employs around 3,000 people. According to IG Metall, a social collective agreement is intended to regulate how the expected staff reductions can be managed in a socially responsible manner. Negotiations have been ongoing for several months./tob/DP/nas