Signa Prime to Name New Supervisory Board to Oversee Disposal

Shareholders of the main property unit of Rene Benko’s Signa conglomerate have nominated a new supervisory board as the insolvent company starts selling off assets.

Austrian business executives Michael Mitterdorfer and Karin Exner-Woehrer have been nominated by the insolvent company’s main shareholder Signa Holding, people familiar with the matter said. Three other investors proposed additional candidates of their own, the people said, asking for anonymity because the nomination haven’t been made public yet.

The candidates are slated to be elected at the annual general meeting of Signa Prime Selection, the group’s flagship luxury unit, on Wednesday. They ...