September 30, 2019 / 2:24 PM / 14 days ago

Krupp Foundation backs Merz, remains convinced of Thyssenkrupp

FILE PHOTO: ThyssenKrupp CEO Heinrich Hiesinger and Ursula Gather, chairwoman of the Alfried Krupp von Bohlen Halbach Foundation poses for a picture before the annual shareholders meeting of ThyssenKrupp in Bochum, Germany, January 19, 2018. REUTERS/Thilo Schmuelgen

FRANKFURT (Reuters) - Thyssenkrupp’s (TKAG.DE) top shareholder on Monday welcomed the appointment of Martina Merz as new chief executive from Oct. 1, saying it was aware of the challenges the conglomerate faces and continues to support it.

“Against this background, it sees itself all the more as a reliable anchor shareholder, just as it has also supported the recently low-dividend and even the two dividendless business years in the interest of the company,” the Alfried Krupp von Bohlen und Halbach Foundation said.

Reporting by Christoph Steitz editing by Riham Alkousaa

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