KTM’s struggle to restructure the company is coming in quick succession: after the withdrawal of Stefan Pierer from the executive chairmanship of KTM AG and Pierer Mobility AG was confirmed last week, the extraordinary general meeting will take place today, Monday, in Munderfing. Remus boss Stephan Zöchling presents himself to the shareholders.
Industrial area Nord 20 in Munderfing: A three-minute drive from the KTM main factory in Mattighofen, the extraordinary general meeting of Pierer Mobility AG will take place on Monday in the “House of Brands”. The parent company of the bankrupt motorcycle manufacturer called this meeting to set the formal course for restructuring the company.
Two of the three agenda items revolve around the planned capital increase, which is intended to bring fresh money into the group. The board of directors led by Gottfried Neumeister and Stefan Pierer wants to get the green light from shareholders for financial instruments worth up to 900 million euros.
Remus’ boss is running for the supervisory board
In addition to the approval of the measures necessary for the restructuring, a reshuffle of the supervisory board is also planned. Remus boss Stephan Zöchling is standing for election to the supervisory board, from which previous chairman Josef Blazicek will leave in favor of Zöchling. The manager with restructuring experience has been active as a board member at Pierer Industrie AG since the beginning of this year.
Only purchased in Italy in September 2024
The 53-year-old, living in Vienna, worked for Oleg Deripaska’s group in Russia for several years, secured the remaining assets of the former Sberbank Europe AG in June 2023 and only took over the Italian GLM group together with Remus in September 2024 about. “He is not a professional reorganizer like others, but he can certainly help as a commissioner,” says Florian Beckermann, board member of the investors association, for whom Zöchling’s involvement raises questions: “Is he taking money with him? Where does that come from?”
The fact is: with the election of Zöchling, the seat change in the KTM group continues happily. Last Thursday, previous co-director Gottfried Neumeister was promoted to executive chairman of KTM AG and Pierer Mobility AG. Owner Stefan Pierer ends up in the second row and is co-director instead of chairman of the board.
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.
