AGP Executive Report
Last update: 3 minutes agoCorporate Shake-up: Lindt & Sprüngli has ousted CEO Adalbert Lechner after weak European sales and two outlook cuts. Former chief Dieter Weisskopf takes over temporarily; Fabian Reinhardt will lead the Austrian business. Banking: BAWAG’s third-quarter net profit rose 13% to €248 million, and it reaffirmed its 2026 target of more than €960 million. Its €1.6 billion purchase of Ireland’s PTSB is expected to close by early 2027, subject to approval. Austrian Industry: US firm Red Cat proposed a €39-a-share cash offer for Steyr Motors, backed by anchor shareholder B&C Group. Red Cat says it plans to keep the company’s headquarters, production and research operations in Austria. Investment: Strabag won a $170 million contract to build Vienna’s Klinik Favoriten hospital, adding to a busy week for Austrian construction and infrastructure news. Prices: Austria’s inflation rate was confirmed at a four-month high, keeping cost pressures in focus for households and businesses.
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