ThyssenKrupps abandons Tata merger

ThyssenKrupp is a great company turned to mediocre one due to populist decisions. There is a lot of fat in every single unit ( RHQ, corp, com et al) which needs to be cut . This unnecessary resources prevent the effective functioning of main line people. Tk needs to bring back the culture of entrepreneurship , collaborative work style and accountability at every single unit. I am sure Guido can do it.

This is the second time - after trying to sell Acciai Speciali Terni AST to Outokumpo - that TK fails with the EU competition commission to pass the deal. On one side it is quite strange to observe how the EU neglects that steel is a truely global business, but on the other side it is not a big merit for TK's top ranks to be unable to make major deals pass the hurdles. YES - it is time to push the RESET-button, but please don't make the competition and the stock exchange laugh by cutting overhead only from 350 to 200 m - this is far too soft. A cut down to the range of 100 ?m would seem much more appropriate and gibe space to breathe for the operating units strangled by HQ-cost and over-mothering. If TK really wants to catch up, take yourself by your own word, give REAL independence to the divisions (without micromanagement from HQ) and enforce REAL responsibility from top to bottom. Much more courage needed, MUCH MORE!