Swiss Re ‘well positioned to thrive’: chair Ermotti leaves on high note

Global reinsurer  Swiss Re’s chairman is stepping down to fully focus on his new role as chief executive officer (CEO) of UBS, Switzerland’s largest bank, following its $3.2bn takeover of rival Credit Suisse.

Sergio Ermotti will step down as chairman of the board of directors on April 30, after completing the agreed handover to vice chairman Jacques de Vaucleroy.

De Vaucleroy is leading the search for a successor and will chair the board in the interim.

Ermotti said: "It has been a great honour for me to chair Swiss Re over the past two years, and I wish to thank the Board of Directors, the Executive Committee and all employees for their commitment and support. Swiss Re's strategic goals are clear, and I am convinced that the company is well positioned to thrive."

De Vaucleroy commented: "On behalf of the Board of Directors, I would like to thank Sergio for his leadership in the past two years and wish him every success in his new role. The search for a successor has started. I appreciate the trust placed in me to lead the transition and very much look forward to working with the Board and management in driving Swiss Re's strategy forward."

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