Zurich, June 19, 2012 – Zurich Insurance Group (Zurich) today announced new measures to further simplify and delayer its global organizational structure to more closely align segments and functions with the execution of its Group strategy while reducing the need for coordination.
The company will discontinue the Chief Administrative Officer (CAO) role and integrate specific areas of that office’s responsibility into other functions. At the same time, the Group General Counsel, Yannick Hausmann (44, Swiss citizen), will be appointed to the Group Executive Committee (GEC).
Zurich will further appoint a Chief of Staff, who will take over some of the administrative functions formerly assigned to the CAO. Kristof Terryn (44, Belgian citizen), Group Head of Operations, has agreed to take on this responsibility in addition to his current role until the position can be filled.
These changes, which are effective July 1, will further strengthen the Group’s control and governance functions while clarifying lines of responsibility in key functions.