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16th of May 2012

Swiss Re's CEO to retire in 2012

Matthew Broomfield 12/12/2011

Swiss Re's CEO Stefan Lippe has decided to step down in 2012 after taking the position in 2009. A successor will be appointed soon.
 
Under Lippe’s leadership Swiss Re restored its capital strength, repaid the convertible capital instrument to Berkshire Hathaway, and regained its AA- rating with Standard & Poor's.
 
Lippe said: “Three years ago I took on the challenge of leading the company through turbulent times as CEO. Today we can say proudly that we have delivered on all of the ambitious targets that we set out at that time.
 
“Now that the turnaround has been achieved, a new era begins for Swiss Re with a new corporate structure and refined strategy. This was the right moment for me to choose to inform the Board about my intention to retire early. This lead time should be sufficient to allow for a smooth transition.”

Tags: CEO, Swiss Re

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