The chairman of global insurance giant, Zurich Insurance Group, resigned today in the wake of the apparent suicide of the firm’s chief financial officer earlier this week.
The firm announced today that its chairman, Josef Ackermann, has resigned from all his functions as a board member, effective immediately. The move follows the death of group CFO, Pierre Wauthier, whose body was found at his home on Aug. 26.
“The unexpected death of Pierre Wauthier has deeply shocked me. I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be,” Ackermann said today in a statement.
“As a consequence, I see the possibility of a continued successful board leadership to the benefit of Zurich called into question,” he added. “To avoid any damage to Zurich’s reputation, I have decided to resign from all my board functions with immediate effect.”
The firm’s vice-chairman, Tom de Swaan, is to assume the role of acting chairman.