The German department store Group Galeria, which was part of the Insolvent Austrian real estate group Signa in the spring of 2024, separated from his boss Olivier van Densche. Instead, the other two members of the management manage the company as a double leadership, as can be seen from a Galeria message.
Tilo Hellenbock was previously responsible for sales in management, he becomes an operational chef (Chief Operating Officer, COO). Christian Sailer remains the head of finances, he will be in charge of Hellenbock in the future.
“With this step, the leadership structure is tightened and the focus is on the further promotion of the company’s reversal,” said it in the announcement of the company. Set the course for a successful future.
Various bankruptcies
The department store has various bankruptcies, the number of branches has shrunk to only 83 over the years. Since last summer, the American investment company NRDC and a participation company of the entrepreneur Bernd Beetz have been owners of Galeria S.à Rl & Co. KG, because the company name has now become and the name of the company has disappeared.
Manager Van den Bosssche initially came to Galeria in 2022, in June 2023 he became a company boss (CEO). The message states that his leadership was’ crucial for the positive development of the company during bankruptcy and restructuring. Nevertheless, he must leave his executive chairman after less than two years. They wanted to continue to promote growth, said from the new double leadership.
Positive Business Result
Galeria emphasizes that, despite the economically difficult framework conditions, the starting point is “excellent” and that the positive business result has been more than 100 million euros since the beginning of the year than in the previous year. “Galeria is on a strong financial basis.” On request, the company has not provided any details about business figures.
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.
