Zurich chairman quits after finance chief’s death
30 Aug 2013 10:22 PM GMT
The chairman of the Zurich Insurance Group abruptly resigned on Thursday over the apparent suicide of its chief financial officer, claiming he wants to avoid damaging the company's reputation.
Josef Ackermann, who is Swiss and a former CEO of Deutsche Bank, Germany's largest, said in a company statement that he was resigning because he believed the undisclosed accusations leveled against him by the family of deceased CFO Pierre Wauthier could hurt Zurich, a major insurance provider that employs about 60,000 people in more than 170 countries.
A day after Wauthier's death, Swiss police said Tuesday that he appeared to have taken his own life. He was found dead in his home in the wealthy lakefront community of Zug, just outside Zurich.
Ackermann said the family believes he bears some responsibility for the death.
‘The unexpected death of Pierre Wauthier has deeply shocked me,’ Ackermann was quoted as saying in the company statement.
Josef Ackermann, who is Swiss and a former CEO of Deutsche Bank, Germany's largest, said in a company statement that he was resigning because he believed the undisclosed accusations leveled against him by the family of deceased CFO Pierre Wauthier could hurt Zurich, a major insurance provider that employs about 60,000 people in more than 170 countries.
A day after Wauthier's death, Swiss police said Tuesday that he appeared to have taken his own life. He was found dead in his home in the wealthy lakefront community of Zug, just outside Zurich.
Ackermann said the family believes he bears some responsibility for the death.
‘The unexpected death of Pierre Wauthier has deeply shocked me,’ Ackermann was quoted as saying in the company statement.
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