Possible management changes at Osterreichische Post
Osterreichische Post AG, the Austrian post office, is reported by well-informed circles to be seeking a possible successor to the company’s current head, Anton Wais, although sources in OIAG, the state enterprise holding which owns the company, and in Osterreichische Post itself, deny the rumour. Business consultancy Egon Zehnder, said to be involved in seeking new Post management, neither denies nor confirms the report.
OIAG is thought not to be satisfied with the performance of the current four-man board of Osterreichische Post, with particular concern over the slip in turnover from letter delivery. Management sees the stable company turnover of Sch15.18bn (1.1bn euros) and the 10 per cent slip in Ebit to Sch98.9m as being within budgeted figures. Meanwhile, the acquisition by Osterreichische Post of a 74.9 per cent stake advertising material distributor Feibra for a purchase price of Sch380m is now official. Abstracted from Der Standard in German FT McCarthy – Copyright 2001 Financial Times Information. Source: World Reporter (Trade Mark).
