Heimstaden Bostad nominates new Board leadership

Wenche Karin Nistad is set to become the new Chairperson of European residential real estate company Heimstaden Bostad, succeeding Helge Leiro Baastad.

Wenche Karin Nistad

Baastad will not seek re-election at the Annual General Meeting on 27 April 2026. The proposal comes from Heimstaden Bostad’s largest shareholders.

Helge Leiro Baastad, who has served as Chairperson since 2023, is stepping down to pursue other board opportunities. Wenche Karin Nistad is currently a member of Heimstaden Bostad’s Board, a position she has held since 2024.

Additionally, Terje Valebjørg has been proposed as a new independent board member. Valebjørg brings significant international experience from his career at Esso (ExxonMobil), where he chaired Esso’s Nordic corporate structure. Since his retirement in 2014, he has taken on various board roles, including with Esso Norge’s pension fund.

Heimstaden Bostad manages approximately 156,000 homes across nine countries, with properties valued at SEK 323 bn (€27.7 bn).

Wenche Karin Nistad commented: “I am pleased to be proposed as Chairperson of Heimstaden Bostad. Having served on the Board for two years, I’ve been impressed by the company’s development and its unique culture, with a great focus on customers and value creation for its shareholders.”

Helge Leiro Baastad stated: “It has been a privilege to serve as Chairperson of Heimstaden Bostad. I would like to thank the Board, management, and shareholders for their trust and collaboration. The company is well-positioned to seize the opportunities ahead, and with Wenche’s knowledge of the business, she will provide valuable insights and continuity to the Board.”

Co-CEO Helge Krogsbøl added: “I would like to thank Helge for his valuable contribution as Chairperson. We are pleased that Wenche has been proposed for the role, bringing continuity and extensive experience. We also look forward to welcoming Terje to the Board and benefiting from his broad international and industrial experience.”