Swiss Re introduced that Sergio P. Ermotti is stepping down as chairman of the Board of Administrators on April 30, 2023, after finishing the agreed handover interval, to totally deal with his new function at UBS, which was introduced in March.
Jacques de Vaucleroy, vice chairman and lead impartial director, is main the seek for a successor and can chair the board within the interim.
“It has been an awesome honour for me to chair Swiss Re over the previous two years, and I want to thank the Board of Administrators, the Govt Committee and all staff for his or her dedication and assist. Swiss Re’s strategic targets are clear, and I’m satisfied that the corporate is effectively positioned to thrive,” commented Ermotti.
Ermotti is returning to UBS the place he was group chief govt officer from 2011 to 2020, when he “efficiently repositioned UBS following the extreme challenges arising from the worldwide monetary disaster,” UBS mentioned on March 29, when it introduced that Ermotti would lead the financial institution’s deliberate acquisition of the troubled Credit score Suisse.
“On behalf of the Board of Administrators, I wish to thank Sergio for his management up to now two years and need him each success in his new function,” de Vaucleroy mentioned. “The seek for a successor has began. I recognize the belief positioned in me to guide the transition and really a lot sit up for working with the Board and administration in driving Swiss Re’s technique ahead.”
Supply: Swiss Re
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