ThyssenKrupp: How Armin Laschet could turn the corner

Armin Laschet

We pointed this out last week: In our view, one of the biggest problems in the ThyssenKrupp case is the lack of management expertise on the Krupp Foundation’s eleven-member board of trustees. Instead, scientists like the chairwoman Ursula Gather (mathematics) and her deputy Reimar Lüst (astrophysics) dominate, who do not know the practices of the corporate world – and therefore made serious mistakes in the conflict with the aggressive investors Cevian and Elliott. To prevent this from happening again, experienced managers must finally join the board of trustees and put their stamp on the foundation.

Lute beater and Schmidt v. Gather and Lüst?

This is the only way to ensure that the foundation acts more professionally in the strategy debate and also sends suitable experts to the ThyssenKrupp Supervisory Board. An important impulse for a new start could come from North Rhine-Westphalian Prime Minister Armin Laschet (CDU), who joined the board of trustees at the end of 2017. In any case, we hope that he will take action for the good of the company and turn the tide – possibly together with competent members of the Board of Trustees such as the ECB Director Sabine Lautenschläger and the economist Christoph Schmidt. There are candidates who could make their posts available – for example the 95-year-old Lüst or the 80-year-old Fritz Pleitgen.