Signa founder René Benko gives up power in the real estate group

Austrian property entrepreneur René Benko is stepping down from the management of the ailing Signa Group. As the company announced on Wednesday, the billionaire is stepping down as Chairman of the Advisory Board of Signa Holding. The German restructuring expert Arndt Geiwitz will take over the restructuring of the property and retail holding company. Benko will transfer his voting rights to Geiwitz.