Nomination can be put forth on the firm’s annual normal assembly subsequent yr
Swiss Re is present process a radical succession course of for its new chairperson following the resignation of Sergio P. Ermotti.
After an intensive identification and choice course of involving exterior candidates, the governance and nomination committee, led by Joerg Reinhardt, has decided that Jacques de Vaucleroy, the present vice chairman, ought to proceed main the board of administrators.
De Vaucleroy’s nomination as the brand new Swiss Re chairman can be proposed for election on the subsequent annual normal assembly in April 2024, a call absolutely supported by the board members, the corporate stated.
“I’m delighted that the board of administrators proposes Jacques de Vaucleroy, who at the moment acts as chair advert interim, as subsequent chairman of Swiss Re,” Reinhardt stated. “From the choice course of, which concerned a number of exterior candidates, Jacques emerged because the board’s most well-liked successor. I’m satisfied that his in-depth data, his excellent expertise within the business, and his thorough acquaintance with Swiss Re can be of nice worth.”
“I really feel honored by this nomination,” de Vaucleroy stated. “Swiss Re will proceed to be absolutely decided to execute its technique and obtain its monetary targets. The corporate’s glorious shopper franchise, the very robust capital place, and our simplified, nimbler group allow us to carry one of the best of our agency to shoppers, buyers, and workers.”
Throughout his tenure as vice chairman, Jacques de Vaucleroy will proceed to guide the board of administrators till the following annual normal assembly. To make sure he can fulfill the obligations of the chairman position, de Vaucleroy will step down from most of his exterior mandates and give attention to his duties inside Swiss Re.
In accordance with finest governance practices, de Vaucleroy will relinquish his positions as lead unbiased director and chairperson and member of the compensation committee. Reinhardt will assume the position of lead unbiased director, whereas Jay Ralph will chair the compensation committee, efficient instantly. Moreover, de Vaucleroy will step down as chairman of the board of administrators of Swiss Re Europe S.A. and Swiss Re Worldwide SE as soon as an appropriate successor has been recognized, the corporate stated.
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