Mourning in Schwerin: Ex-WGS boss Michael Veiga died unexpectedly

Mourning in Schwerin: Ex-WGS boss Michael Veiga died unexpectedly

Schwerin mourns the loss of Michael Veiga, the former managing director of the Schwerin Housing Company (WGS), who died on July 12, 2025 at the age of 56. The sad news was shared by his family via his Facebook profile. Veiga moved to Karlsruhe a few months ago to spend more time with his family.

Michael Veiga took over the management of WGS on August 1, 2023 at a time that was anything but easy. He succeeded Ulrich Bartsch after the previous management of Thomas Köchig was dismissed. This was the third change in management in just 18 months, which came as a surprise to many, especially on the supervisory board and the city administration. WGS, a municipal company with over 10,000 residential units, is now planning to fill the position of managing director, as Mayor Rico Badenschier has already announced.

Cost reduction and structural changes

In his short time as managing director, Veiga demonstrated a good knack for the strategic management of WGS. He carried out extensive restructuring and managed to reduce running costs by a seven-figure sum. One of the most controversial measures was the closure of the tenant center in the Lankow district, which brought in annual savings of around 60,000 euros. Although this decision received mixed reactions, the savings were necessary to improve the company's financial position. Many of the savings Veiga implemented will not be fully effective until next year, but his actions show that he was aiming for a positive direction even in difficult times.

Another step that Veiga implemented was to relocate employees to empty rooms at the company's headquarters in the city center. As early as spring 2024, he announced that he would no longer be able to fulfill his duties as of August 1, 2024 for family reasons. He spoke openly about the stresses that the distance from his family brought with it and made it clear that he no longer had a work-life balance.

A lasting legacy

Michael Veiga will be remembered in Schwerin as a matter-of-fact, assertive and committed manager. His ability to successfully navigate difficult changes will certainly be discussed further in the years to come. The real estate industry in which WGS operates is characterized by its special characteristics, including long payback periods and a high proportion of municipal market participants. The importance of strategic management, as discussed in a comprehensive work on the housing and real estate industry, is essential to the continued existence of such institutions.

The WGS is now facing a new phase in which the decisions made and savings achieved can have an impact. As the city prepares for its next leadership, the memory of Michael Veiga and his contributions to WGS endures.

For more information you can visit the article Schwerin-lokal.de and nordkurier.de read up. In-depth aspects of strategic management in the real estate industry can be found in a work beck-elibrary.de.