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Austrian Federal Ministry of Finance [BMF]: Council of Ministers appoints new President and Vice President for the OeNB General Council

The OeNB is to have a new President, Harald Mahrer, and a new Vice President, Barbara Kolm. Christoph Traunig and Stephan Koren will also become members of the General Council

The period of office of Claus Raidl as OeNB President and Max Kothbauer as OeNB Vice President will expire on 31 August 2018. The Council of Ministers has therefore appointed a new President and Vice President to direct the affairs of the General Council. Harald Mahrer will take over as President of Oesterreichische Nationalbank as of 1 September. Barbara Kolm will take over the position of Vice President. The period of office of General Council member Dwora Stein also ends on 31 August, and an appointment for her position has therefore also become necessary. She will be replaced by Christoph Traunig from 1 September. Following the expiry of the mandate of General Council member August Astl on 7 September, his position will be taken over from 8 September 2018 by Stephan Koren. All candidates are supremely well qualified to take on these highly responsible positions, particularly in terms of their financial expertise and their experience on the financial and capital market. 

Finance Minister Hartwig Löger commented: “We are delighted to have been able to have these highly responsible positions filled by such excellent candidates.  I am confident that President Harald Mahrer and the General Council will fulfil their tasks extremely well in accordance with Oesterreichische Nationalbank’s status as an independent bank, and I look forward to working with them on a forward-looking monetary policy.”

Oesterreichische Nationalbank, as an integral part of the European System of Central Banks (ESCB), contributes in the public interest to the organisation of economic development in Austria and also in the Eurozone. In this position, Oesterreichische Nationalbank functions independently and autonomously in accordance with its guiding principles of stability and security. The General Council is responsible for the supervision of business which does not fall within the sphere of responsibility of the European System of Central Banks (ESCB), and is therefore comparable to the Supervisory Board of a corporation. Consequently, only experienced people, who should also be leading figures in practical economic life as well as jurists or economists, can be considered for membership of this important body.

Dr. Harald Mahrer: President of the Austrian Economic Chamber
Dr. Barbara Kolm: President of the Friedrich August von Hayek Institute
Mag. Christoph Traunig, MBA: Expert in finance and real estate
Dr. Stephan Koren: Director General of immigon and Chairman of the Supervisory Board of Wüstenrot