Earlier this year, Sergio Ermotti resigned his chairmanship of Swiss Re to become CEO of UBS, leaving an unexpected void at the insurer. At its annual general meeting in April, a vote will take place on making the role permanent.
Swiss Re's board of directors is proposing vice-chairman Jacques de Vaucleroy for election to become the permanent chairman of the board at the next annual general meeting in April 2024, according to a statement Wednesday.
Following the resignation of chairman Sergio Ermotti on April 30 so that he could take over as CEO of UBS, an extensive search was initiated at Swiss Re to find his successor.
After «careful consideration,» the Governance and Nomination Committee headed by Joerg Reinhardt concluded that de Vaucleroy should continue to lead the board and is proposed for election as the next chairman. The board of directors fully endorsed the decision, according to the statement.
Cornerstone Mandate
While leading the board in his current role as vice chairman until April's AGM, he will make Swiss Re his «cornerstone» mandate and step down from most of the external mandates he now has. This is to ensure he has the time and capacity required for the chairmanship.
Among his current board memberships are Fidelity International Limited, Eight Roads Holdings Limited, Colt Technology Services Group plc, and Everex SA. He is also chairman of the board of Heraclius Topco.
Board Member Since 2017
De Vaucleroy was elected to the Board of Directors of Swiss Re in 2017. He has more than 30 years of experience in the insurance industry. He was a member of the Management Committee of AXA Group and a member of several boards of directors and supervisory boards of AXA Group companies.
