On Wednesday morning, important decisions were made for the bankrupt companies at the extraordinary general meetings of Signa Prime and Signa Development. After the creditors, shareholders also had to approve the restructuring plans and trust solutions of Signa’s two core companies to prevent the companies from going bankrupt.
The general meeting has approved the restructuring plan at Signa Development. More information about this soon!
What was known in advance about the general meeting
As part of these general meetings, former SPÖ leader and ex-chancellor Alfred Gusenbauer will resign as chairman of the supervisory boards of the two Signa companies.
The control board has been slimmed down
Ex-vice chancellor and Wüstenrot boss Susanne Riess-Hahn, ex-RBI boss Karl Sevelda and former Bank Austria chief executive Karl Sonntag have also announced they will withdraw from the audit committee.
New supervisory boards and a new board are elected
The innovator Erhard Grossnigg, who has been a board member since the beginning of December, also announced his resignation after the cleaning work in both companies. As part of the general meetings, new supervisory boards must be elected and then a new board appointed.
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.
