FRANKFURT, May 16 (Reuters) - Thyssenkrupp's incoming chief executive does not intend to waste time when he takes over the German conglomerate next month, he said on Tuesday, under pressure to hive off several businesses, including steel and defence.

"Tough, far-reaching decisions have to be made as we diligently press ahead with the transformation process at the required speed," Miguel Angel Lopez Borrego, who will take over as CEO on June 1, said in a statement. (Reporting by Christoph Steitz Editing by Riham Alkousaa)