Michael Schiltknecht becomes the new CEO of Steiner AG
Steiner AG gets a new CEO. Michael Schiltknecht takes over the management of the Zurich real estate developer. It replaces Ajay Sirohi, who will be leaving Steiner AG.
The real estate developer Steiner will be managed by Michael Schiltknecht as the new CEO. According to the company's press release , this will continue the transformation process that Steiner AG decided on in February 2011. At that time, Steiner decided to further develop the business model into a leading real estate company with the associated construction expertise. Schiltknecht succeeds Ajay Sirohi, who is leaving Steiner AG.
In the 2021/22 financial year, which ended on March 31, 2022, the Steiner Group generated sales totaling CHF 763.6 million. According to a press release , operating earnings before interest and taxes reached an exceptionally high figure of CHF 49.7 million. Steiner was also able to acquire new development projects with a forecast market value upon completion totaling around CHF 1.5 billion in the year under review. This has increased the group's development portfolio to a volume of CHF 6.4 billion.
Founded in 1915, the company is headquartered in Zurich and has branches in Basel, Bern, Lucerne, Tolochenaz VD and Geneva. According to the media release, the portfolio includes a wide range of projects in the areas of living, office, industry and logistics as well as own product innovations such as the brands Werkarena, Manufakt or Steiner Student Hotel. In French-speaking Switzerland, Steiner Construction is the market leader in the realization of real estate using the total/general contractor model. Steiner AG has created two new areas: Steiner Financial Initiatives for new investment solutions and Steiner Digital for digital collaboration platforms.