Herwig Teufelsdorfer
Signa Prime board member leaves after just one year
After about a year at the helm of Signa Prime, CEO Herwig Teufelsdorfer will be leaving the company. He would have had a three-year contract, but due to the bankruptcy proceedings he will now end his activities at the end of May. From the creditors' point of view, Teufelsdorfer's successes were "manageable".
Teufelsdorfer, who studied industrial engineering at Graz University of Technology, took over the management of Signa Prime last April and should have stayed for three years. A press release on the "decision by mutual agreement" now stated that "due to the change in the proceedings to bankruptcy proceedings on October 31, 2024, the liquidation of the properties to date and the structured liquidation processes already initiated for the remaining real estate portfolio [...] the real estate-related areas of responsibility of the Management Board in the insolvency proceedings have recently been reduced".
Disputes between the Management Board and the liquidator?
The trustee restructuring plan for Signa Prime Selection (SPS) finally failed last October, after the Vienna Higher Regional Court had already overturned the restructuring plan at the end of July at the request of the Finanzprokuratur, which represents the legal interests of the Republic. According to "Krone" information, there have recently been massive internal disputes between the Management Board and the bankruptcy trustee.
Before that, the Salzburg native and former Buwog board director was a member of the management board at S Immo in Vienna and previously held several management positions in real estate companies in Austria and abroad.
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