A recent report indicates that Karin Exner-Wöhrer, a member of the supervisory board for Signa Prime, has stepped down from her position. She informed the heads of the supervisory board and restructuring administrators of both companies, Prime and Development, of her decision to resign. According to sources, there have been reports of agreements not being kept and uncertainties surrounding supervisory board remuneration that led to Exner-Wöhrer’s departure.
The Signa Prime supervisory board was reduced from eight to five members last week with Michael Mitterdorfer and Sebastian Schäfer joining Exner-Wöhrer on the board. Schäfer, a lawyer who previously worked at Credit Suisse Group and now works for Kühne Holding AG, brings expertise in restructuring to the board. The other continuing members of the board include Michael Siefert from Madison International Realty and Jürgen-Johann Rupp from German RAG, making a total of four members with Exner-Wöhrer’s impending departure.
Prime has not commented on the situation, while Exner-Wöhrer has remained silent about her decision. However, it is clear that changes are already happening within Signa Prime as new members are elected to the supervisory board.