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credit: Signa Group
credit: Signa Group

René Benko hands over the chairmanship of the SIGNA Holding Advisory Board to Arndt Geiwitz

René Benko has handed over the chairmanship of the Advisory Board of SIGNA Holding to Arndt Geiwitz. Geiwitz additionally will take over the chairmanship of the Shareholders’ Committee of SIGNA Holding. The Benko family private foundation will continue to be the Holding company’s largest shareholder.

“Given the current situation, this is the best solution for the company as well as its part-ners, investors and employees. What’s important now is to restore trust, and I want to play my part in that. SIGNA’s property portfolio is and remains unique. I’m absolutely certain that the company has a very bright future,” René Benko explains. “All stake-holders are called upon to support SIGNA at this time. I am fully prepared to do so.”

SIGNA has engaged other leading external consultants, including at the Prime and Development level, to provide support in carrying out a thorough review of all business areas, developing measures and drawing up an integrated concept for the Group.

For SIGNA Prime and SIGNA Development, Rothschild & Co. and the White & Case law firm have been mandated to support the tasks that lie ahead in these two property companies while working closely with the SGP Schneider Geiwitz law firm.

“SIGNA needs calm and order at this time. We will approach these im-portant tasks prudently and rationally”, adds Arndt Geiwitz. “The aim is to find long-term solutions, and that’s why it is both responsible and necessary to initiate a comprehensive consolidation for the company now. I call on everyone involved to engage with this process. The quality of the SIGNA Prime portfolio is truly unique, and the prospects of the Development projects, located in top locations in German-speaking metropolitan regions, are very good.”