The leadership vacuum at German industrial giant Thyssenkrupp AG is apparently no barrier to radical surgery, though. CEO Heinrich Hiesinger and chairman Ulrich Lehner resigned in July after pressure from activist investors Cevian Capital and Paul Singer’s Elliott Management Corp. I’ve argued before that the beleaguered company should think about a separate stock market listing for its profitable elevators unit. Thyssenkrupp (comprising the old steel activities) would keep a minority stake in a new capital goods unit spanning elevators, industrial plant construction and car parts. Plus it means the steel business, whose earnings are more volatile, should receive dividend payments from the capital goods unit.

Source: Washington Post September 27, 2018 16:07 UTC