Christian Ringnes is stepping down as Eiendomsspar manager – new manager from today

Christian Ringnes (70) is stepping down as managing director of Eiendomsspar. Sigurd Stray (48) is stepping up from the role of deputy managing director, while Ringnes is moving into the role of acting chairman, according to a press release from the company.

– It is with great peace of mind that I now step back as Eiendomsspar’s managing director after 40 years of work. We at Eiendomsspar are a diverse group, who would like to give that little extra. I am convinced that with Eiendomsspar’s high-quality properties, our strong financial position and outstanding organisation, under the leadership of Sigurd Stray, we will continue to create good results, says Ringnes.

– Christian Ringnes has been involved from the start of Eiendomsspar, and has been essential in developing the company to what it is today. In his 40 years as CEO, the group has built up values ​​from 430 million to over 40 billion in 2024, while significant dividends have been paid out along the way. This corresponds to an annual return per share of 16 percent on average. The values ​​have been created through hard work, analysis of the market and thereby well-timed purchases and sales of property and shares, says Anders Ryssdal, who will continue as deputy chairman of the board.

– We are very happy that Christian will continue as working chairman of the board, so that we retain his considerable expertise. At the same time, I am also very happy that Sigurd Stray is now stepping in as the new managing director as I am sure that he has the necessary expertise and experience to make Eiendomsspar grow further into the future, says Ryssdal in the message.

Sigurd Stray has been employed by Eiendomsspar since 2010. Prior to this, he has work experience from DNB Asset Management and the Olav Thon Group. He was originally employed as property and development director at Eiendomsspar, before becoming deputy managing director of the company in 2018.

Stray has broad experience from the rental, project and investment side of the real estate industry, and for the past six years has served as operational manager for both the rental and development part of Eiendomsspar’s business.

– To take over the chief’s chair from one of Norway’s most skilled and prominent property developers is big shoes to fill. I have been with Eiendomsspar since 2010 and have been part of a fantastic journey.

Now I look forward to building on the solid foundation that has been created, and together with the organization develop Eiendomsspar further, says Sigurd Stray.

Stray starts in the position on May 7.

Ringnes’ daughter, Isabelle Ringnes, was elected to the board as a new member.

Eiendomsspar also published figures for the first quarter late on Monday afternoon: