Money from Sberbank deal

Battle for rescue: Will Remus boss join KTM?

CEO of Pierer Industrie AG since the beginning of the year, Chairman of the Supervisory Board of Pierer Mobility AG since January 27: Stephan Zöchling.

(Bild: Krone KREATIV/Gerry Frank Photography, Manfred Fesl)

Everything is top secret and highly confidential, is the motto for the negotiations with potential investors who are to finance the rescue of KTM, the motorcycle manufacturer that has slipped into insolvency. Nevertheless, one person has something to say: Stephan Zöchling. The Remus boss offered to step in as a financier.

"I know the industry, I know the mechanisms, I know the KTM company very well because we are a supplier and, as Remus, supply some products and aftermarket products" - that was one of the sentences with which Stephan Zöchling introduced himself to the shareholders of Pierer Mobility AG on January 27, who later elected him to the Supervisory Board. By the afternoon, it was clear that Zöchling, who is the head of exhaust manufacturer Remus, Erne in Vorarlberg and a logistics center in Vienna, would even become Chairman of the Supervisory Board.

My goal is to work with the management and the entire team to further expand KTM's position in the motorcycle industry, promote sustainable growth and pave the way for a technologically exciting future.

Stephan Zöchling in einer Aussendung nach seiner Wahl zum Aufsichtsratschef der Pierer Mobility AG

"As the new Chairman of the Supervisory Board, I am happy to take on the responsibility of actively shaping the process of recovering the Pierer Mobility Group," he said afterwards, "I firmly believe in the power of the KTM brand to inspire motorcycle fans worldwide."

"I earned a bit of money with Sberbank"
Ahead of the vote on February 25th on the restructuring plan for KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH, it is becoming increasingly apparent that Zöchling could possibly play an even more important role at the motorcycle manufacturer in the future. In any case, the Viennese confirmed to "trend" magazine that he has submitted to the sales process of Citibank, which was engaged by Pierer Mobility AG. How much is he prepared to invest? He is keeping quiet about this, partly for stock market reasons, as he emphasizes: "But I have earned a bit of money with Sberbank that I would like to reinvest." After all, Zöchling had secured the European Sberbank remains.

Millions transferred?
As soon as it became clear that Zöchling would be taking over tasks at Pierer Industrie AG and Pierer Mobility AG, there was speculation that the entrepreneur would invest in the company in Mattighofen. Zöchling has apparently already transferred millions to provide liquidity in the course of the restructuring process. Some also consider it possible that he could take on a more important role in the future together with the previous Pierer partner Bajaj. At the same time, there are increasing indications that Stefan Pierer will withdraw from KTM after the restructuring or at least play a much less influential role.