By John Revill
ZURICH--Zurich Insurance Group (ZURN.VX) Friday said it would
investigate whether undue pressure was placed on Pierre Wauthier,
the company's late chief financial officer, whose suspected suicide
triggered the sudden exit of Chairman Josef Ackermann.
Mr. Ackermann, one of Europe's best known finance executives and
a former chief executive of Deutsche Bank, quit his post earlier
this week, suggesting he was partially being blamed for the
apparent suicide of the Mr. Wauthier.
In an call with investors early Friday, Zurich said a letter had
been left by Mr. Wauthier, who was found dead at his home on
Monday, relating to the relationship between the two
executives.
Zurich Chief Executive Martin Senn said he didn't want to speak
about the contents of the letter, but the company would be looking
into whether any undue pressure had been placed on Mr.
Wauthier.
"I want to be crystal clear," we take corporate culture and
behavior very seriously," Mr. Senn told investors.
He said recent developments had nothing to do with the the
quality of financial reporting at the company.
"It had nothing to with the reporting format, or the quality of
our reporting or the accuracy of our reporting," he said.
It was entirely Mr. Ackermann's decision to leave, Zurich said,
with a new chairman to be appointed by the time of its next
AGM.
Write to John.Revill at john.revill@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires