Sirius unveils new CEO, CFO as Allan Waters steps down

Bermuda-based re/insurer Sirius Group has named Kernan Oberting as its new chief executive officer (CEO), and Ralph Salamone as chief financial officer (CFO), starting from February 9 2019.

In addition, Meyer Frucher, chair of the nominating and governance committee of the board of directors, has been appointed interim chairman of Sirius Group.

Oberting will succeed Allan Waters as CEO, and Salamone will succeed Oberting as CFO.

Waters will step down as a director of Sirius Group on February 9 but will stay on after this as an advisor to Oberting and other senior executives of Sirius Group.

Prior to assuming the role of CEO, Oberting served as president of Sirius Group since September 2018 and CFO of since April 2016. He has also served as president of Sirius Capital Markets, since April 2016.

Salamone served as the president and chief executive officer of Sirius Global Services, a position he has held since 2010. He has also served as the senior vice president, CFO and treasurer at Sirius America Insurance Company since 2012.

“On behalf of the board of directors, I want to thank Allan for his remarkable leadership as CEO. Allan has left a significant legacy and made lasting contributions to Sirius Group. Under his leadership, Sirius Group was publicly listed and diversified its shareholder base with four globally recognized investment firms as cornerstone investors. Today’s leadership announcement is part of a thoughtful succession plan culminating in Allan’s existing management team being appointed to continue to lead Sirius Group into the future,” said Frucher.

Oberting said: “I am honored and privileged to be the next CEO of Sirius Group, and I appreciate the confidence that Allan and the board of directors have placed in me. I also want to thank Allan for his constant support, and am fortunate to have him as both a mentor and friend. This is an exciting time for Sirius Group, and I look forward to working with Ralph, our management committee and the rest of our colleagues all over the globe to grow our franchise and create value for all stakeholders.”

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