René Benko’s Signa group is on fire. The Tyrolean, who on paper has actually only been a simple advisor for ten years, has had to make way for a reorganizer on the command bridge of the group of more than 1,000 companies. Arndt Gietenz is at the helm of a steamboat that currently seems completely unmaneuverable; At the end of this week he brought on board a new head of restructuring, Ralf Schmitz.
As is often the case, the smaller employees on the lower floors are the first to pay when something goes wrong. In Vienna, Signa is said to have already terminated a number of employment relationships in recent weeks. That put a damper on the already bad mood. And caused extra frustration. After all, during the long Benko era, some top executives not only received fantastic salaries in the millions despite the threat of billions in losses, but also led lavish professional lives.
From 2010: A wine cellar for 1647 euros
The Krone now has more details about the so-called “representation costs” of the Signa Group led by the financial juggler: according to this, a Benko company rented the wine cellar of its former villa in the Hötting district of Innsbruck to Signa Holding as early as 2010. For no less than 1647 euros per month.
This deal was specifically through RB Immobilienverwaltungs GmbH & Co. KG, which can be attributed to René Benko through private foundations. The rental agreement states: “The rental property may only be used for representative purposes (events, invitations to business customers, etc.).” René Benko certainly always and without exception only talks about business and with people in his wine cellar when he tastes one. or two good wines discussed with business partners…
On the hunt for celebrities
It is no secret that for years Signa and Benko have spared little effort to target business partners and combine the pleasant with the useful in hunting parties. Both the Signa Group or founder Benko and top managers treated themselves to areas in the Tyrolean Gleirschtal, the Stüblergut in Styria and in Nickelsdorf in Burgenland, where, according to the mayor, Signa Holding was chosen as a tenant from 2020. “Many employees – especially René Benko – have had a hunting license for years,” Signa’s spokesperson told regional media at the time.
According to Krone’s research, they even had their own hunting coordinator. Well-known celebrities were invited. From the real estate sector. From the banking world. Even from the media sector. Some hunters are said to fear that entry lists will be released soon after Benko’s departure.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
