Steiner AG: Change in management

Steiner AG has announced that Ajay Sirohi and Michael Schiltknecht will succeed Karsten Hell, who is leaving the Group to pursue new career opportunities, with immediate effect. Hell will remain associated with the company as an advisor to the Board of Directors.

Sirohi, an economist and mathematician by training, joined Steiner Group as CFO in 2011; he previously held the same position at various multinational companies. Schiltknecht has been with Steiner since 2007, initially as Head of Real Estate Development. Sirohi and his co-CEO will now "continue to pursue the defined strategy and ensure the sustainable development of the company". The board of directors expresses its "fullest confidence" in the new management team, the media release continues.

In the spring of this year, Steiner AG adjusted its business model, which includes the expansion of its own project portfolio and the initiation of investment models and investment vehicles. In addition, the company intends to launch digital products for the real estate market in the future. Therefore, the organizational structure has been adjusted and revised processes have been implemented - thus creating all internal and external conditions for a successful future of Steiner AG, the company states. For this reason, CEO Karsten Hell has offered his resignation to the Board of Directors. (bw)