On February 19, 2026, the world of the arts and the world of corporate governance came together in WU Vienna’s Ceremonial Hall. At the 16th Austrian Supervisory Board Day, around 400 art management leaders and decision-makers engaged in a dialogue about how much freedom is needed in the arts and how much structure is needed in organizations. The event also included a keynote by star guest Elīna Garanča, the international opera star.

WU Rector Rupert Sausgruber and University Board Chair Cattina Leitner opened the event. Organized by WU professors Susanne Kalss and Werner H. Hoffmann, the Supervisory Board Day focused on good governance in the arts and cultural management, while also highlighting Vienna’s special role as an art and business hub.

An opera star balancing emotions and earnings

The day centered around Elīna Garanča and her keynote. The international opera star spoke about the tension between artistic authenticity and economic responsibility. Art thrives on emotions and risks, but at the same time, as Garanča pointed out, her role is not only that of an artist but also that of a freelance entrepreneur who has to make sure she generates a viable income year by year. With this statement, Garanča summed up a balancing act that many people in many different areas are facing, going far beyond the cultural sector.

Cultural management means taking responsibility across generations

Leading cultural managers from major institutions shared insights into how corporate governance can be structured in the cultural sector. Christian Kircher from Bundestheater-Holding emphasized that a holding company such as his own organization does not create art and culture itself. But what it does is that it provides the substrate that culture needs to thrive, based on stable structures and responsible management. Matthias Schulz from the Zurich Opera House talked about how it is possible to strike a good balance between artistic generosity and the necessary organizational framework.

Hedy Graber from Istituto Svizzero highlighted the responsibility that supervisory boards have with regard to impact and social engagement. Based on the example of the Wiener Konzerthaus, Matthias Naske and Christine Dornaus talked about the primary goal of their work – making sure that as many different people as possible engage with musical excellence and keep doing so in the long term. They said their supervisory board’s foremost priority was to respect artistic freedom while creating a reliable framework for nourishing diversity and quality.

Diversity as a performance booster

Another key item on the agenda was the topic of diversity in management bodies. Studies were presented that show clear performance advantages for companies that have diverse executive and supervisory boards. Sabine Herlitschka from the Federation of Austrian Industries, Karen Fanto from Zukunft.Frauen, and Michael Sigmund from the Oesterreichische Nationalbank all highlighted the positive effects resulting from a greater involvement of women. In practice-oriented workshops, participants discussed issues relating to digitalization, investments, and cyber risks in the audit committee.

With the Supervisory Board Day, WU reaffirms its role as a leading hub of corporate governance expertise in the German-speaking countries. By combining academic expertise, hands-on insights from leading practitioners, and an interdisciplinary dialogue, the Supervisory Board Day underscores WU’s position as a driving force for responsible leadership in business and culture.

The participants of the 2026 Supervisory Board Day included Annette Klinger, Internorm, Ulrike Huemer, Linz City Council, Georg Riedl, ATS, Burkhard Gantenbein, Uniqua Insurance Group, Monika Brodey, Kapsch TrafficCom, Helmut Bernkopf, OeKB, Theresia Niedermüller, Director General at the Federal Ministry of Arts and Culture, Monika Kircher, RWE, Erich Hampel, B&C Private Foundation, Peter Hofbauer, Austrian Audit Oversight Authority, and Ulrike Klemm-Pöttinger, Austrian Financial Reporting Enforcement Panel.