TKMS (ESG Profile) | Sovereign relevance, governance constraints

Research evidence excerpt

TKMS (ESG Profile) | Sovereign relevance, governance constraints

racks and current group-level responsibility for M&A, Automotive Technology, and

Marine Systems.

López Borrego, as CEO of thyssenkrupp AG, contributes international industrial leadership and

defence-sector experience. The broader board combines legal, financial, transactional, and

defence expertise.

Dr. Sebastian Lochen, Head of Legal & Compliance at thyssenkrupp AG, adds legal, compliance,

and governance expertise, while CFO Dr. Axel Hamann contributes corporate finance and board

governance experience.

Jennifer Cooper further strengthens the board through her M&A and portfolio-management

background.

Marine and military expertise is provided by Admiral ret. Joachim Rühle and Vice Admiral ret.

Frank Lenski, both of whom bring senior naval experience and insight into maritime defence

requirements. Volker Troche and Harald von Heynitz add independent oversight, while Andreas

Görgen represents the German government’s interests under the security-agreement framework

discussed below.

The board members’ experience collectively covers the key areas of corporate finance, auditing,

compliance, executive management, and works-council participation. A separate General

Partner's Supervisory Board, initially comprised of three members with plans to expand it to six,

oversees the Management Board. Three committees are in place at the KGaA level: Audit,

Nomination, and Related-Party Transactions.

At the Supervisory Board level, thyssenkrupp AG retains material influence as the controlling

shareholder, which is standard for a recently listed KGaA, though thyssenkrupp AG will cease to

control the General Partner once its ownership stake falls below 30%. The German federal