Austrian Times RSS FeedsLike the Austrian Times Facebook page!Follow us on Twitter!


Events for July
M T W T F S S
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Add your event FREE

Today

Videos


BurgKino

Pub Quiz everyTuesday at Johnny's Pub

Popular in Austria


Cosmo&Nanu

Karlheinz Essl steps away from Baumax

Karlheinz Essl steps away from Baumax

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.

Austrian Times


Are you on Facebook? Like the Austrian Times on Facebook and win great prizes!

Your comment to this article :

(will be approved by an editor before going online)

  • Not for publication:
  • How many vertical lines or which Text (from left to right) do you see in this image:

Cosmo and Nanu
ORF Watch

Tag cloud:
table  Baumax  Essl  published  BAWAG  collection  bank  Further  Karlheinz  Humer  chain  Rudolf  Deputy  government  explored  founder  improvement  Austria  Regina  panel

Latest News

 

Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.

Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.

German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.

Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.

Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.

Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.

Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.

Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.

Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.

Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car and realising it was a huge two metre snake that had ended up curled around the engine.

 


Mala Vrata

The most popular stories –
last 7 days



Don't moan alone, the Ombudsman Investigates.

Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.

Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.


Austrian Zimmers