VBV Group, Austria’s biggest retirement services group, has announced that VBV Pension Fund CEO and VBV-Holding member of the Executive Board, Günther Schiendl, will step down at the end of 2026 amid the restructuring of VBV Group.

VBV Group has been gradually implementing efficiency-enhancing measures since 2022, include plans to merge the investment divisions of the VBV Pension Fund and the VBV Provident Fund.

As part of the merger, the number of Executive Board positions will be reduced.

“It is important to us to reflect the synergy effects and efficiency gains within the Executive Board as well," VBV companies chairman of the Supervisory Board, Markus Posch, said.

"Due to the planned consolidation of investment activities at VBV from two divisions into a single group division in the future, Günther Schiendl’s board assignment, which runs until the end of 2026, will not be renewed."

The merger marks another important step in the VBV Group’s consolidation process.

Since 2022, extensive structural adjustments have been implemented at group level. For example, through consolidation in the HR department, as well as in the legal and CSR departments, in customer and sales operations, and in the areas of marketing, sales support and digital services.

“The consolidation of the investment divisions is the logical next step for our company to make VBV even more effective and cost-efficient for the benefit of its customers,” VBV Group CEO, Andreas Zakostelsky, said.

---