At today’s meeting, the Supervisory Board of thyssenkrupp AG approved the participation of the energy company EP Corporate Group (EPCG) in thyssenkrupp’s steel business. The decision was made with the second voting rights of the chairman of the supervisory board against the votes of the employee representatives. Jürgen Kerner and Tekin Nasikkol comment on this.
Jürgen Kerner, Second Chairman of IG Metall and Deputy Chairman of the Supervisory Board of thyssenkrupp AG: “History was made at thyssenkrupp today – in the worst possible sense. With the sale of the 20 percent stake in EPCG, the shareholders around Mr. Russwurm and the CEO, Mr. Lopez, cut the lines between thyssenkrupp AG and Stahl AG. We are convinced that the resulting risks are completely unclear.
This daring maneuver is taking place in stormy times: The steel board is currently working on a restructuring concept that will probably result in the loss of thousands of jobs. Billions of dollars will be required for the restructuring. My conclusion: thyssenkrupp AG is absolving itself of its responsibility for its employees even before the plan for the steel sector is even available.
The employee side expressly welcomes EPCG’s willingness to get involved in steel. We also understand that Mr. Kretinsky would like to gain insight into the development of the new plan. But neither this hasty approach nor an immediate 20 percent stake is necessary. Rather, prudence and clarity are now required. Instead, there is wild activism to send the steel sector into independence. This will meet with our fierce resistance.”
Tekin Nasikkol, GBR Chairman tkSE AG & KBR Chairman tkAG: “With Russwurm’s double vote, the last hopes for fair, democratic coexistence have been buried. The future of Germany’s largest steel producer faces uncertain times. Lopez acts irresponsibly and takes full risks. There has never been anything like this at thyssenkrupp. Now we are in conflict mode.”