7/28/2018, 6:37 PM (Source: TeleTrader)
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Gather denies ThyssenKrupp break-up

Head of the ThyssenKrupp foundation, Ursula Gather, dismissed on Saturday the possibility of a break-up for the German steel conglomerate as well as allegations she is responsible for a leadership crisis in the company. In an interview with Der Spiegel, Gather stated the allegations are "unjustified and painful," before adding that a "break-up of the company will not happen under my watch."

Earlier this month, chief executive officer of the steel giant, Heinrich Hiesinger, submitted his resignation to the company's board in which he expressed his wish to step down from his position, less than a week after the conglomerate reached a deal to merge its European steel operations with India's Tata Steel.

Breaking the News / JC