Haselsteiner Heir Calls Out Conwert Structure
Investor Hans Peter Haselsteiner is planning to call a special stockholder's meeting for Conwert property group. He plans to have the company's structure to be changed so that the supervisory board would have less power over its operations.
He made these pronouncements in an interview with Der Standard as to his plans for the company. His family foundation owns 24.4% of Conwert and he said that the group's Societe Europeenne (SE) form was 'not ideal' to the needs of the firm. He is recommending the installation of an independent executive board elected by the shareholders.
He also ventilated his desire to be part of that supervisory board, saying "That is an option but I would not want to be chairman."
Conwert is a publicly listed company in the Austrian bourse, with 24.4% of its shares held by Haselsteiner Familien- Privatstiffung. Other shareholders include Earnest Partners with 5.0% shareholdings and 3% of shares are held as treasury shares of the company.