SMG Swiss Marketplace Group is finalizing the CEO succession and making a change at the top of its Board of Directors. This is according to a press release from the company. The company announced the personnel changes alongside its 2026 half-year results. Thus, changes are occurring at both levels of leadership simultaneously. This is noteworthy for a company that has only been publicly traded since 2025.
Alberto Sanz de Lama takes over operational leadership
Christoph Tonini (pictured on the right) will step down from his position at the end of 2026. He has led the group since February 2023 and guided it through its initial public offering. He cites this as a natural time for the transition. Alberto Sanz de Lama will succeed him effective January 1, 2027. He has previously led the group’s vehicle business. This promotion of an internal candidate signals continuity.
Transition from CEO to Chairman of the Board of Directors
Tonini is expected to be elected Chairman of the Board of Directors at the Annual General Meeting in April 2027. The current Chairman, Jörn Nikolay, is stepping down. Until the Annual General Meeting, Vice Chairman Pietro Supino will lead the board on an interim basis. Legally, the process is clearly defined. For publicly traded companies, the Annual General Meeting elects the Chairman annually on an individual basis, in accordance with Art. 712 of the Swiss Code of Obligations (OR). Shareholders therefore decide for themselves on the confirmation.
Governance Issues with a Direct Transition
A direct transition from CEO to the chairmanship is considered a sensitive issue by proxy advisors. Critics point to the potential for oversight of one’s own previous tenure. Additionally, the new CEO may lose some leeway. Proponents, on the other hand, emphasize the preservation of knowledge and networks. The Swiss Code of Best Practice recommends a clear separation of roles and strong independence within the board. How SMG structures this is likely to be a topic of discussion at the 2027 Annual General Meeting.
2026 Half-Year Results Show Double-Digit Growth
Meanwhile, operations are going well. Revenue rose by 11.3 percent in the first half of 2026 to 179.8 million Swiss francs. Profit reached 56.4 million Swiss francs. The real estate segment, comprising Homegate and ImmoScout24, grew by 11.5 percent. The general marketplaces—Ricardo, tutti.ch, and anibis.ch—grew by 13.0 percent. The rest of the business, comprising FinanceScout24 and Moneyland.ch, remained virtually flat at 1.1 percent.
Automotive portals are growing more slowly than last year
One detail is particularly relevant for the mobility sector. The business comprising AutoScout24 and MotoScout24 grew by 12.2 percent. In 2025 as a whole, the growth rate was still 16.4 percent. The pace is thus slowing, but remains in double digits. This aligns with market conditions, as new car sales are stagnating while demand for used cars remains strong. This is precisely what benefits the automotive portals.
Stock Market Reaction to the Announcement
The market reacted positively to the news. SMG shares rose by as much as 6.99 percent to 32.15 francs during the trading day. Apparently, the earnings figures outweighed the uncertainty surrounding the leadership change. Furthermore, the succession had already been clearly communicated. Consequently, no unresolved leadership vacuum arose.
Context for the Swiss platform market
SMG operates several market-leading portals in Switzerland. These include Homegate, ImmoScout24, AutoScout24, MotoScout24, Ricardo, and tutti.ch. Shareholders include Ringier, which holds just under 20 percent. The group was formed as a joint venture among several media and financial companies. Whoever manages these portals therefore also helps shape the used car and real estate markets. The leadership change thus deserves attention beyond the financial pages.
Who will be the new CEO of SMG Swiss Marketplace Group?
Alberto Sanz de Lama. He will take office on January 1, 2027.
What was his previous role?
He headed the group’s automotive business, which includes AutoScout24 and MotoScout24.
When will Christoph Tonini step down?
At the end of 2026. He has led the group since February 2023.
What role will Tonini assume afterward?
He is expected to be elected Chairman of the Board of Directors at the Annual General Meeting in April 2027.
Who will lead the Board of Directors until then?
Vice Chairman Pietro Supino, on an interim basis. The current Chairman, Jörn Nikolay, is stepping down.
Who elects the Chairman of the Board of Directors?
For publicly traded companies, the Annual General Meeting does so annually through a separate election in accordance with Art. 712 of the Swiss Code of Obligations (OR).
Why is the transition from CEO to Chairman considered delicate?
The former CEO then has a say in overseeing his own tenure. Additionally, the successor’s room for maneuver may be compromised.
How did revenue and profit perform?
Revenue rose by 11.3 percent to 179.8 million Swiss francs. Profit totaled 56.4 million Swiss francs.
How did the automotive portals perform?
They grew by 12.2 percent. For the full year 2025, growth was still at 16.4 percent.
Which segment grew the most?
The general marketplaces—Ricardo, tutti.ch, and anibis.ch—with an increase of 13.0 percent.
How did the stock market react?
The SMG stock rose at one point by 6.99 percent to 32.15 francs.
Which portals belong to SMG?
Among others, Homegate, ImmoScout24, AutoScout24, MotoScout24, Ricardo, tutti.ch, anibis.ch, FinanceScout24, and Moneyland.ch.
