Company Announcements

Sergio P. Ermotti to step down as Swiss Re Chairman after AGM – Jacques de Vaucleroy, designated Vice Chair, to lead transition and succession process

Source: EQS

Swiss Re Ltd / Key word(s): Miscellaneous/Personnel
Sergio P. Ermotti to step down as Swiss Re Chairman after AGM – Jacques de Vaucleroy, designated Vice Chair, to lead transition and succession process

29-March-2023 / 06:51 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Article 53 LR

Zurich, 29 March 2023 – Following the appointment of Sergio P. Ermotti as new CEO of UBS, and in light of the upcoming Annual General Meeting of Swiss Re on 12 April 2023, the Board of Directors of Swiss Re has decided the following course of action to conduct the transition process:

  • Sergio P. Ermotti has agreed to confirm his availability for re-election at the upcoming Swiss Re AGM on 12 April 2023.
  • The Swiss Re Board has nominated Jacques de Vaucleroy as new Vice Chairman and Lead Independent Director subject to his re-election as Board member by shareholders, effective post AGM.
  • To fully concentrate on his role at UBS, Sergio P. Ermotti intends to step down after the AGM and a short handover period.
  • The Board of Directors will immediately start the search to identify a successor. In the interim, Jacques de Vaucleroy will chair the Board of Directors until a new Chairperson has been elected by an Extraordinary Meeting of Shareholders.
  • FINMA, the Swiss Financial Market Supervisory Authority, supports this process.

Swiss Re's Chairman Sergio P. Ermotti said: "In response to these extraordinary circumstances, we will ensure the highest standards of good governance as well as stability and continuity in managing this transition. I am convinced the proceedings now proposed are in the best interest of our shareholders and I am confident that the transition under the leadership of Jacques de Vaucleroy will be well managed. Swiss Re has very clear strategic goals and is well positioned to deliver on all its targets."

Renato Fassbind, current Vice Chairman, added: "On behalf of the Board of Directors I would like to thank Sergio for his significant contributions to Swiss Re and his dedicated leadership as Chairman over the last two years. We are grateful for his continued support during the transition period and wish him all the very best for the new challenges and opportunities ahead."


About Swiss Re

The Swiss Re Group is one of the world's leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally.

Cautionary note on forward-looking statements

The information provided and forward-looking statements made are for informational purposes only. In no event shall Swiss Re be liable for any loss or damage arising in connection with the use of this information and readers are cautioned not to place undue reliance on forward-looking statements (the cautionary note on forward-looking statements are available under Swiss Re undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise. This communication is not intended to be a recommendation to buy, sell or hold securities and does not constitute an offer for the sale of, or the solicitation of an offer to buy, securities in any jurisdiction, including the United States. Any such offer will only be made by means of a prospectus or offering memorandum, and in compliance with applicable securities laws. This document does not constitute an invitation to effect any transaction in securities or make investments.

For further information please contact Swiss Re Media Relations: + 41 (0)43 285 7171 or
Please use this link to access Swiss Re's press releases.

End of Inside Information
Language: English
Company: Swiss Re Ltd
Mythenquai 50/60
8022 Zurich
Phone: +41 (0) 43 285 71 71
ISIN: CH0126881561
Valor: 12688156
Listed: SIX Swiss Exchange
EQS News ID: 1594967

End of Announcement EQS News Service

1594967  29-March-2023 CET/CEST