"Where was the Supervisory Board all this time? Why didn't it intervene?" Questions like these have been raised behind closed doors ever since the extent of the problems at KTM became known. On November 29, restructuring proceedings with self-administration were opened for three companies (KTM AG, KTM Components GmbH, KTM Forschungs & Entwicklungs GmbH).

At the same time, the provisional mountain of debt became known - this is estimated at around two billion euros. And this after record sales and turnover had been achieved in recent years ...

Annual general meeting at the end of January
With the first sign of life after the opening of insolvency proceedings on December 17, Pierer Mobility AG announced its intention to reorganize its ownership structure. At the same time, the search for investors was officially launched, accompanied by Citibank. In order for fresh capital to flow into the company and thus ensure the survival of the motorcycle manufacturer and the associated group of companies, an Annual General Meeting is required. This is to take place at the end of January, as Pierer Mobility AG announced on Thursday evening.

Supervisory Board and Management Board: two roles for Remus boss
At the same time, Pierer Mobility also revealed that the Supervisory Board will be restructured. Josef Blazicek resigned from his position as Chairman on Thursday. Stephan Zöchling will take his place on the Supervisory Board. Zöchling is the head of sports exhaust system specialist Remus, also bought the remaining assets of the former Sberbank in Vienna and has experience in restructuring in the automotive sector. At Pierer Industrie AG, which in turn includes Pierer Mobility AG, Zöchling has now even joined the board of Pierer Mobility AG and KTM AG co-head Gottfried Neumeister, from which Friedrich Roithner has resigned.

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