Christian Fladeland Named CEO of Heimstaden Bostad and Heimstaden AB as Helge Krogsbøl Steps Down

Christian Fladeland has been appointed CEO of Heimstaden Bostad AB and Heimstaden AB, the company announced Oct. 27, 2026, after Helge Krogsbøl decided to step down as co-CEO of both entities. Fladeland, who was Co-CEO and Chief Investment Officer, moves into the sole chief executive role.

Christian Fladeland Moves From Co-CEO to CEO

Fladeland has been part of the management team of both companies since joining Heimstaden in 2019. Before that, he was a partner at Sadolin & Albæk, a Danish commercial real estate advisory firm that is now Colliers Denmark.

The appointment shifts Heimstaden from a dual-CEO structure to a single chief executive. Fladeland held the Chief Investment Officer title alongside his co-CEO role.

Statements From the Chairperson and Outgoing Co-CEO

Heimstaden Bostad Chairperson Wenche Nistad said Krogsbøl "has played a key role in Heimstaden Bostad's success with his focus on efficiency combined with strong values." She added: "I understand Helge's decision, and I'm confident that Christian together with our competent management team will maintain Heimstaden Bostad's position as the leading pan-European residential company."

Krogsbøl said he and Fladeland "have worked closely to expand Heimstaden's footprint across Europe, and I am confident that Christian will continue our relentless effort to always strive for improvement, while preserving the values and culture that make this a unique company."

Fladeland said: "Helge has been a great colleague and has become a good friend who will be missed at Heimstaden. He leaves behind a strong organisation and a highly capable and competent management team. I look forward to continuing to develop the company together with them and all our talented colleagues across Heimstaden."

Why the Heimstaden AB Change Affects Heimstaden Bostad

Heimstaden Bostad AB has no executives of its own. It contracts Heimstaden AB, through its subsidiary Heimstaden Group Manager AB, as investment and asset manager. The leadership change at Heimstaden AB therefore applies equally to Heimstaden Bostad AB.

Heimstaden Bostad owns more than 155,000 homes across nine countries, with a property value of SEK 336 billion, and has about 1,600 employees. The company says it acquires, develops and manages properties with an evergreen perspective.

Operating and Financing Backdrop

The succession comes as Heimstaden Bostad continues a deleveraging and refinancing program while rental operations remain solid. Third-quarter 2026 reporting said privatisation sales supported further deleveraging, and the S&P-defined interest-coverage ratio improved to 1.8x from 1.6x a year earlier. The company revised its year-end S&P-defined loan-to-value guidance to 52%-54%, from 50%-52%.

On the operating side, like-for-like rental growth was 4.0% in the quarter, and rental income reached SEK 4.036 billion, compared with SEK 3.982 billion in the prior-year quarter. The quarterly net operating income margin rose to 77.2% from 75.4%, while the last-twelve-month margin increased to 73.6% from 72.1%. The letting rate was 99.3%, and quarterly net rental income rose 3.6% to SEK 3.1 billion.

Heimstaden Bostad completed approximately SEK 59.5 billion of refinancing and new financing during 2025, compared with SEK 41.9 billion in 2024, using unsecured bonds as well as secured and unsecured bank financing. As of Dec. 31, 2025, the company had SEK 9.728 billion of outstanding senior unsecured bonds listed on Nasdaq Stockholm and Euronext Dublin. It ended 2025 with an 87% interest-hedging ratio and an average interest-rate fixation maturity of 3.14 years. In the third quarter of 2026, it issued SEK 750 million of two-year green notes at a 3.27% coupon and SEK 750 million of 3.5-year green notes at STIBOR plus 87 basis points.

Outlook: Continuity at the Top

Fladeland has been involved in the company's European expansion, financing priorities and investment decisions as Chief Investment Officer, and the appointment places leadership of the business in a single role. The transition is an internal promotion rather than an external hire. Chairperson Nistad's statement points to the existing management team and the company's pan-European residential position as the basis for continuity.

Sources

• Heimstaden Bostad: Christian Fladeland new CEO at Heimstaden Bostad AB