BREAKING NEWS

Henkel has no plans to breakup - CEO in Sueddeutsche Zeitung

Henkel has no plans to breakup - CEO in Sueddeutsche Zeitung
FILE PHOTO: A logo of consumer goods group Henkel is pictured before its annual news conference in Duesseldorf March 8, 2012. REUTERS/Ina Fassbender/File Photo -
Copyright
Ina Fassbender(Reuters)
Euronews logo
Text size Aa Aa

FRANKFURT (Reuters) – Henkel <HNKG_p.DE> has no plans to break up, its chief executive told a German newspaper, adding the German consumer goods group’s current structure gave it enough flexibility to grow.

Industrials groups around the world are grappling with shareholder pressure to reduce their complexity to create value and get rid of conglomerate discounts, leading some, including General Electric <GE.N> and Thyssenkrupp <TKAG.DE>, to restructure.

“These trends and debates come and go. But we are generally sticking to our three business areas,” Hans Van Bylen told Sueddeutsche Zeitung in an interview.

“That translates into stability and balance. At the same time, all three areas have freedom and a clear focus on their markets and customers,” he added.

More than 61 percent of Henkel’s ordinary shares are owned by members of the Henkel family share-pooling agreement, making it less vulnerable to attempts by activist shareholders to push for change.

“We are very happy about that. The family is pursuing a long-term strategy. This provides us with stability to develop the group on a long-term basis,” Van Bylen said.

(Reporting by Christoph Steitz; Editing by Kirsten Donovan)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.
Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.