Zurich, December 15, 2004 – Zurich Financial Services Group (Zurich) announces changes in the composition of the Group Management Board (GMB) to better reflect the Group’s strategic direction and organizational changes announced on April 2. Effective January 1, 2005, the GMB will include the ten current members of the Group Executive Committee (GEC) and eight business segment and functional leaders (see note to editors). New members of the GMB are Paul N. Hopkins (President US Personal Business), John Lynch (CEO US Small Business), and Martin South (CEO International Business Division).
James J. Schiro, Chief Executive Officer of Zurich Financial Services, said: "The changes in the GMB’s composition reflect our transition to managing our businesses by global segments and global functions. The GMB will be engaged with me as we leverage our leadership to ensure successful implementation of our Group’s strategy."
There are also four leaders who will no longer be part of the GMB. They are Gastón Aguirre (CEO Latin America), Hans-Jürg Bernet (CEO Switzerland), José Cela (CEO Spain), and Hanneke Frese (Head Group Capabilities). James J. Schiro added: "I want to thank them for their service to the GMB over the last few years. They will remain part of our larger Group leadership team, and I look forward to continuing our close working relationship."
Note to editors:
Members of the Group Executive Committee are: James J. Schiro (Chief Executive Officer), Peter Eckert (Chief Operating Officer), Patrick O’Sullivan (Group Finance Director), John Amore (CEO Global General Insurance), Paul van de Geijn (CEO Global Life Insurance), Martin Feinstein (CEO Farmers; until March 31, 2005), Geoff Riddell (CEO Global Corporate), Axel Lehmann (CEO North America Commercial), Dieter Wemmer (CEO Europe General Insurance), and David Wasserman (Chief Investment Officer and Head of Group Strategic Planning).
Members of the Group Management Board only: Thomas Buess (COO Global Life Insurance), Paul N. Hopkins (President US Personal Business; until March 31, 2005), Richard P. Kearns (Chief Administrative Officer), John Lynch (CEO US Small Business), Monica Mächler (General Counsel and Company Secretary), Michael Paravicini (Chief Information Technology Officer), Martin South (CEO International Business Division), and Franz Wipfli (Head of Organizational Transformation Management).
