A blow to the state holding company ÖBAG: Helmut Kern resigns from his job as head of the supervisory board. His position will end with the upcoming general meeting on June 29, the departure will be in consultation with Finance Minister Magnus Brunner (ÖVP), BAG said on Tuesday. The holding company represents the interests of the republic in partly state-owned companies such as Post, Telekom Austria and OMV.
“A successor will be proposed by the Treasury Department to represent the owner for election at the upcoming general meeting,” the state holding company said. No name was given, nor were the reasons for Kern’s departure.
With Kern, ÖBIB became ÖBAG
Kern was appointed in February 2019. The management advisor was then appointed under Minister of Finance Hartwig Löger (ÖVP). He was previously General Director of the Hospital of the Brothers of Charity in Vienna and Vice-President of the University Council of the University of Vienna. With his appointment as head of the supervisory body, the state holding company was also renamed from ÖBIB to ÖBAG.
Difficult times for the state holding company
When Kerns took office, Thomas Schmid was the board member of ÖBAG, whose seized cell phone later sparked numerous corruption investigations. After massive allegations, he resigned in June 2021 and also resigned from all his mandates on the supervisory board. The affair continues to occupy the republic to this day, for example as part of the current ÖVP’s Commission of Inquiry.
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