Early Life and Education
Stephan Ernst Schmidheiny was born on October 29, 1947, in Balgach, Switzerland. He is a fourth-generation member of a prominent Swiss industrial family. Schmidheiny pursued his education at the University of Zurich, where he completed his Law studies and earned a PhD in 1972.
Rise to Success
Schmidheiny's business career began in 1972 at Eternit. In 1976, at the age of 29, he became the CEO of the Swiss Eternit Group, inheriting it after his father divided the industrial empire. One of his notable achievements was ending the company's use of asbestos in 1986, five years after announcing Eternit's intention to exit asbestos production and distribution. He also invested in various industrial segments, building a multinational conglomerate of shareholdings.
Key Business Strategies
Schmidheiny played a key role in the rescue of the Swiss watch industry, supporting Nicolas Hayek in the formation of Swatch Group. He co-organized the merger of Brown, Boveri & Cie (BBC) with ASEA of Sweden, creating ASEA Brown Boveri (ABB Group). Additionally, he restructured Landis + Gyr after acquiring two-thirds of its capital. Schmidheiny has faced legal challenges due to the Eternit asbestos scandal and was convicted of aggravated manslaughter in 2023.
Philanthropy
Since the 1990s, Schmidheiny has been devoted to philanthropic pursuits, focusing on sustainable development. He established the Fundación Avina and other initiatives in Latin America, contributing over $1 billion to the region. He has also supported cultural and environmental conservation efforts, including the Daros Collection and the establishment of Fundación MarViva.