Zurich Financial Services Group has announced a “streamlined” management structure and related senior management appointments. “At the core of the new structure is a reaffirmation of Zurich’s segment-oriented approach to managing its insurance businesses globally,” the bulletin explained. The appointments will become effective as of July 1, 2010.
The following senior executives will head the Group’s three business segments:
–Mario Greco is appointed CEO of General Insurance.
— Kevin Hogan is appointed CEO of Global Life.
— Paul Hopkins continues as Chairman of the Board of Farmers Group, Inc.
Kristof Terryn is appointed to the newly created role of Group Head of Operations. He will be responsible for the Group’s shared services, IT and driving the Group’s operational transformation initiatives.
In addition, Zurich is refining its regional structure, creating the new role of regional chairman and focusing that role on stakeholder management and business development. The following senior executives will chair the Group’s three geographic regions:
— Paul Hopkins is appointed Regional Chairman of the Americas.
— Geoff Riddell is appointed Regional Chairman of Asia-Pacific & Middle East.
— Dieter Wemmer, Chief Financial Officer, is in addition also appointed Regional Chairman of Europe & Africa.
CEO Martin Senn explained: “These appointments streamline our management structure and reaffirm our successful segment strategy. The segment heads will be responsible for their businesses globally, which will accelerate decision-making and speed to market. Aligning our shared services and IT operations globally will drive our ongoing trans-formational initiatives. And the regional chairmen will ensure a strong focus on long-term business development and strategic relationships with all our stakeholders.”
Zurich also announced that Annette Court, currently CEO Europe General Insurance and member of the Group Executive Committee (GEC), “will be leaving the Group by mutual agreement to pursue other opportunities. The Group thanks her for her contributions and many achievements at Zurich, and wishes her every success in the future.
“John Amore, currently CEO of General Insurance, will step down from that role but will continue as a member of the GEC in a senior advisory capacity.”
Reflecting the role changes, as of July 1, 2010, the members of the GEC are:
— Martin Senn (Chief Executive Officer)
— John Amore (Senior Advisor)
— Mike Foley (CEO North America Commercial)
— Mario Greco (CEO General Insurance)
— Kevin Hogan (CEO Global Life)
— Paul Hopkins (Chairman of the Board of Farmers Group, Inc. and Regional Chairman of the Americas)
— Axel Lehmann (Chief Risk Officer)
— Cecilia Reyes (Chief Investment Officer)
— Geoff Riddell (Regional Chairman of Asia-Pacific & Middle East)
— Kristof Terryn (Group Head of Operations)
— Dieter Wemmer (Chief Financial Officer and Regional Chairman of Europe & Africa)
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