Before Thyssenkrupp’s general meeting, IG Metall sharply criticized CEO Miguel López – the powerful union accused him of non-transparent behavior and disregard for employee representatives. López has led the ailing industrial group since June; He has set ambitious goals for the company with almost 100,000 employees and is also looking for partners or buyers for the steel and shipyard division.
This Friday, up to 1,400 participants are expected to come to the general meeting in a Bochum congress center. IG Metall will demonstrate in front of it and distribute leaflets. They denounce that there is “chaos in almost all areas of the company”. López wants to get the company back on track, but in doing so he wants to “hit the wall with his head. He’s ignoring co-determination.” The trade unionists complain, for example, that they were informed too late that Thyssenkrupp was negotiating with the Czech billionaire Daniel Křetínský about joining the steel division. In addition, López expanded the board of directors against the wishes of the union in the middle of the crisis.
IG Metall deputy chairman Jürgen Kerner said on Thursday that the early departure of López’s predecessor, Martina Merz, was “necessary.” The new beginning with López is good for the group because the manager shakes things up, added Kerner, who is also deputy head of the Thyssenkrupp supervisory board. But the union expects López to embrace the culture of participation and not tear everything down.
Kerner also complained that the new boss placed a great focus on the interests of shareholders. Thyssenkrupp is paying a dividend for the past financial year, despite a loss worth billions. The investment company Deka has already announced that it will vote against the distribution at the general meeting.