The world-famous Red Bull brand has been part of wild speculation in recent weeks and months. Now there are clear messages from the owners about the future.
In recent weeks and months, Red Bull, by far Austria’s best-known brand and a company with a global reputation, has been confronted with a large number of internationally circulated rumors and speculation:
- There were increasing tensions – following various controversies involving the world champion Formula 1 team. About a power struggle that could also extend to the management of the billion-dollar company.
- About disagreements between the shareholders who could not agree on a common line after the death of the founder and sole director of the company for decades, Dietrich Mateschitz (end of 2022).
- The temporary highlight was public speculation that Red Bull was considering withdrawing its headquarters from Austria and moving to Asia. Possibly even for tax reasons.
The head office remains in Austria
Now Red Bull has responded. In keeping with the spirit of the founder, Dietrich Mateschitz, who always prioritized the tradition of sharing internal information over excessive external statements. According to information from Krone, the shareholders of Red Bull GmbH (51 percent belong to the Yoovidhyah family, 49 percent to Mark Mateschitz) addressed their 17,000 employees worldwide on Wednesday, a year and a half after the group’s operational realignment.
One of the key messages of this letter comes at the end: the commitment to the head office in Austria (Fuschl in Salzburg), which annually transfers more than half a billion euros in tax payments to the Republic of Austria. The multi-billion dollar company’s global operations will continue to be “managed and coordinated” by “the Austrian headquarters”, it is said. Signed: Chalerm and Saravoot Yoovidhya and Mark Mateschitz, who appear in a joint photo.
“We can be proud of it”
In advance, the shareholders of the Red Bulls point out the successes that have been achieved since the organizational changes at the end of 2022. “We can be proud of how we have overcome the challenges of our time together,” it says. “There were successes in the year and a half that were so big that everyone outside the company could see them. And there were many smaller successes, behind the scenes. We have also seen these successes.”
New records
In the letter, the drinks giant refers to new records: “2023 was once again the most successful year in Red Bull’s history with more than 12 billion cans sold.” Yet it is “not self-evident that every year will be the best in our history. And it is special that we have been able to set new records again in 2023.” One reason for this is that Red Bull’s success story has consisted of the same ingredients for years: “The commitment, competence and teamwork of the people. who work for Red Bull.” With this message we would like to say “thank you” for this.
Therefore – “even though there have been rumors lately” – there is absolutely no reason to change direction. “We will continue to set goals that others consider unattainable – and we will continue to achieve them. We will not continue to waste time listening to people who have many opinions and very little knowledge.”
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.
