Signa: A new beginning without René Benko - What is now necessary for the real estate group

Signa: A new beginning without René Benko - What is now necessary for the real estate group

Signa: Real estate group needs a new start – without René Benko

René Benko, founder of the Signa real estate group, has lost a lot of trust. In order to calm the situation, a break with the past is necessary - and a farewell to Benko. Benko has made Signa one of the most important players in the European real estate market. Areas such as the Golden Quarter or the Park Hyatt Hotel in Vienna are part of his empire, as are retail companies such as Galeria, the KaDeWe Group and the Swiss Globus department stores. But Benko's image is tarnished and his trust is severely damaged. Given the situation on the real estate market and the group's financial needs, a new start without Benko is unavoidable.

An external cleaner must take over the management, while Benko should retreat to a position as a simple partner. This would increase confidence in the group's future and provide further funds for restructuring. It is important that Signa avoids fire sales and offers a clear perspective. Banking supervisors at the European Central Bank are currently reviewing European banks' exposure to Signa, making the situation even more uncertain. A restart with an external expert at the helm would therefore be a crucial step in getting Signa back on track.

According to a report from wiwo.de, Signa has lost a lot of trust and is in a crisis that requires a new beginning. The founder René Benko has lost a lot of reputation and is suspected by the Vienna public prosecutor of having bribed an employee of the Austrian Ministry of Finance. In addition, banking supervisors from the European Central Bank are examining the exposure of European banks to Signa. To restore confidence and provide further resources for the restructuring, Benko should retreat to a position as a simple partner while an external cleanup manager takes over. This could be a kind of trustee who negotiates with financiers and shareholders and offers Signa a perspective. A restart would be crucial to lead Signa out of the crisis.