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Immofinanz Pays Top Managers $3.7 Million of Turnaround Bonuses - BLOOMBERG ..
Immofinanz, the Austrian developer-investment manager that verged on collapse in 2008, paid managers led by CEO Eduard Zehetner a $3.7 mln (EUR 3 mln) bonus this year for restoring the company to profitability. Aside from Zehetner, Manfred Wiltschnigg and Daniel Riedl also shared in the bonus, Immofinanz said in its annual report. Their individual holdings in the company were not disclosed.

'Immofinanz Group was successfully directed out of the life-threatening crisis in the 2008/09 financial year, and equity and the net asset value were substantially increased,' Immofinanz said in the report. 'Furthermore, dividend payments were made possible.'

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