The Signa Group has dismissed Timo Herzberg, the former CEO of Signa Prime Selection and Signa Development Selection, with immediate effect due to strong suspicion of serious misconduct. The decision was made during an extraordinary supervisory board meeting. Erhard Grossnigg, an expert in restructuring, will now assume the role of CEO for both companies. Herzberg had been with Signa for approximately seven years, initially as the head of operations in Germany and, since mid-2021, as the head of real estate.