Krupp Foundation head sees opportunity to spin off Thyssenkrupp steel unit - report

Ursula Gather, the leader of the Krupp Foundation board, has expressed optimism about the possibility of separating Thyssenkrupp's steel division, according to a recent WAZ newspaper report. As the foundation's chairperson, she holds a significant stake in the German conglomerate, owning nearly 21% of its shares, making her the largest shareholder.

Gather identified several favorable conditions for such a move, citing Thyssenkrupp's ongoing restructuring agreement with the IG Metall union, the recent sale of its stake in steelmaker HKM, and enhanced protection for Europe's steel industry via EU tariffs. She has been leading the foundation's board since 2013. Thyssenkrupp, headquartered in the Ruhr region, is in the process of transforming itself into a financial holding company.

The company has already successfully taken its hydrogen subsidiary, Nucera, and defense company, TKMS, public. Additionally, its materials trading subsidiary, tk accelis, is set to go public later this year.