Zurich, August 29, 2013 - Zurich Insurance Group (Zurich) announces that the Chairman, Josef Ackermann, has informed the Board of Directors that he is resigning from all his functions as a Board member with immediate effect.
The Board of Directors respects and has accepted Josef Ackermann’s decision with deep regret and expresses its gratitude for his dedicated leadership and valuable contribution to the success of the Group.
The Vice-Chairman of the Board, Tom de Swaan, will assume the role of acting Chairman.
Josef Ackermann said, “The unexpected death of Pierre Wauthier has deeply shocked me. I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be. As a consequence, I see the possibility of a continued successful Board leadership to the benefit of Zurich called into question. To avoid any damage to Zurich’s reputation, I have decided to resign from all my Board functions with immediate effect.”
Tom de Swaan said, “Working with the Board and Management, I am determined to lead Zurich’s continued success.”