ZURICH--Zurich Insurance Group AG (ZURN.VX) said Wednesday it
had appointed a new chairman following the controversial departure
of Josef Ackermann, who abruptly resigned last month following the
suicide of the company's chief financial officer.
Zurich Insurance said in a statement its board of directors has
hired Tom de Swaan, who had been serving as acting chairman in the
wake of Mr. Ackermann's departure.
Mr. Ackermann, one of Europe's most influential financiers,
announced his resignation on Aug. 29, following the suicide of
Pierre Wauthier, citing feelings among Mr. Wauthier's family that
Mr. Ackermann is to blame for the former finance chief's death.
In a suicide note, Mr. Wauthier named Mr. Ackermann and said he
had created an unbearably stressful working environment. Zurich
Insurance has said it would mount an investigation into whether
undue pressure was placed on Mr. Wauthier prior to his death.
Mr. Ackermann was named chairman at Zurich Insurance last year
following about a decade as chief executive of Deutsche Bank AG.
His resignation and Mr. Wauthier's death came amid a difficult
financial time for the insurance giant, which has reported
consecutive quarters of profit declines.
Mr. de Swaan, a Dutch citizen, has been on the board of Zurich
Insurance since April 2006.
Write to John Letzing at john.letzing@wsj.com
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