Monday, 24. November 2014
© Frank Garzarolli / Sammlung Essl Foundation, 2009
25. 04. 14. - 18:00
25. 04. 14. - 18:00
Baumax founder Karlheinz Essl who hit the headlines earlier this year after he offered to sell his large art collection to Austria to help raise capital for his business, has stepped down as the chair of the company's Supervisory Board.
He has replaced himself with his son Martin Essl, who has been CEO of the DIY chain since 1999.
Seventy-four-year-old Karlheinz Essl, now no longer has any function in the company, which he founded over 40 years ago. BauMax has 65 retail stores in Austria and branches around eastern Europe and Turkey and is thought to be in debt to creditors.
Essl had been hoping that together with support from the bank, the money raised from the sale of his 7000-strong art collection would help to restructure bauMax and save jobs. A round table discussion between Essl, government officials and bank representatives went positively a few weeks ago according to government spokespeople, although once all the options of a state purchase were explored, Essl decided to take his offer off the table.
Further to Martin Essl, the control panel of the home improvement chain also has Rudolf Humer as his Deputy and former BAWAG Vorständin Regina Prehofer, Erik Eckert and Michael Lentsch are also on the board.
Next week the company is due to published a balance sheet for 2013 and a revised recovery plan.
Mad About Mammoths At Vienna Museum
A unique exhibition in the Austrian capital Vienna has proved a massive hit after bringing together for the first time some of the most famous frozen woolly mammoth remains.
Controversy Over Advert For Fucking Hell Beer
An Austrian political party has defended a decision to promote a local beer named after the village of Fucking.
Luigi Restaurant Cooks Up Delicious Delights For Winter Season
Brothers Luigi and Leo Doci who own the renowned Luigi restaurant chain will be cooking up a storm in Semmering this winter.
Church Porn Star In Court
A Polish-born woman who made a video of herself masturbating in church is facing six months in jail after a viewer called police when he recognised the woman.
Hugh Grant Cuddles Lamb On Animal Farm With Mrs Glock
Hugh Grant led a star-studded turnout at Austria's animal farm project which unveiled its Christmas market this week.
Cheating Wife Buries Hubby Alive For New Lover
A woman who married her sisterís fiance and then attacked him with a knife before burying him alive so she could be with her new lover is facing life in jail.
Spate of Crimes throughout Vienna and Lower Austria Solved
Four men have been arrested after committing 113 break-ins, 21 thefts and causing at least 260,000 Euros worth of damage.
Dad Punished Child, 2, With Boiling Hot Shower
A two-year-old girl is in an artificial coma and fighting for her life after her father threw her into a scalding hot shower leaving her with severe burns at the family home in the Austrian capital Vienna.
Police And Firemen Get Cold Turkey
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