22 July 2021

Change in the management of Steiner AG

Steiner Group announced today that it has appointed Ajay Sirohi as CEO and Michael Schiltknecht as Co-CEO with immediate effect. They will succeed Karsten Hell, who has stepped down in order to pursue new professional perspectives.
 
Steiner AG was founded more than 100 years ago and is now a leading brand in the Swiss real estate industry.
 
In line with its defined strategy, Steiner AG has built up an extensive portfolio of its own real estate development projects worth several billion CHF and a broad experience in construction management in recent years. Based on this, Steiner AG launched an adaptation of its business model in spring 2021. This involves concentrating and further expanding its own project portfolio as well as initiating contractual participation models and investment vehicles such as the establishment of the independent Steiner Investment Foundation SIF.
 
In addition, Steiner AG intends to launch digital products for the real estate market in the near future.Thus, the Group's technical expertise and extensive knowledge are integral components of the internal development process to establish Steiner AG as a leading developer with strong integrated planning and construction expertise.
 
The transformation of the company has been initiated, the organisational structure has been adapted and the revised processes have been implemented. Therefore, all internal and external prerequisites for a successful future of Steiner AG are now in place.
 
For this reason, Mr. Karsten Hell, CEO of Steiner Group, has tendered his resignation to the Board of Directors in order to pursue new professional perspectives. The Board of Directors has complied with this request and thanks Karsten Hell for his eight years of service on the Executive Board and for his excellent commitment and achievements, and wishes him all the best for his personal and professional future.
 
Karsten Hell will remain associated with the company as an advisor to the Board of Directors.
 
In the future, the Executive Board will be led by Mr. Ajay Sirohi as CEO and Mr. Michael Schiltknecht as Co-CEO. They will continue to pursue the existing strategy and ensure the sustainable development of the company.
 
The Board of Directors expresses its fullest confidence in the members of the Executive Board and wishes them success. Ajit Gulabchand, Chairman of the Board of Directors of Steiner Group comments: “On behalf of Steiner AG, we would like to thank all our customers, stakeholders and employees for their trust. We look forward to continuing our good and constructive cooperation.”
 
Steiner AG
Steiner AG, one of the leading project developers and general/total contractors (GC/TC) in Switzerland, offers comprehensive services in the fields of new construction, refurbishment and real estate development. The company, which was established in 1915, has constructed more than 1,500 residential projects, 540 commercial properties, 45 hotels and 200 infrastructure facilities such as universities, schools, hospitals, retirement homes and prisons. Steiner AG has its headquarters in Zurich and is represented by branches in Basel, Bern, Geneva, Tolochenaz and Lucerne.
 
Information for the media
Steiner AG, Corporate Communications
Tel.: +41 58 445 20 00, corpcomanti spam bot@steineranti spam bot.ch  
 
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