(Bloomberg) — James Schiro, who led Zurich Financial Services AGthrough the credit crisis and became Goldman Sachs Group Inc.'slead independent director, has died. He was 68.

He died on Aug. 13, according to an e-mail sent today toemployees of New York-based Goldman Sachs by Chief ExecutiveOfficer Lloyd C. Blankfein and President Gary D. Cohn. Schiro diedof multiple myeloma, a form of cancer, at his home in Princeton,New Jersey.

In 2002, Schiro became CEO of Zurich Financial Services, whichhad been the worst-performing European insurance stock the previousyear. Under his leadership, the company returned to profitability,and Barron's magazine included him in its Top CEO list in 2008 and2009. The company, Switzerland's biggest insurer, changed its nameto Zurich Insurance Group AG in 2012.

Following his retirement from Zurich Financial in 2009, Schirojoined Goldman Sachs's board and in 2012 was named lead directorand chairman of the Corporate Governance, Nominating and PublicResponsibilities Committee, according to the bank's biography. Heretired last month to undergo medical treatment for hisdisease.

“Jim was an outstanding board member and an exceptionalindividual who made an invaluable contribution to our firm and toall those who worked with him,” Blankfein and Cohn wrote. “We willremember him for his unfailing commitment to Goldman Sachs and toour shareholders and for the example he set as a leader andmentor.”

'Navigate uncertainties'

He also served as a director at PepsiCo Inc., based in Purchase,New York, and Royal Philips Electronics NV, located inAmsterdam.

“Jim will be remembered as one of the finest business leaders ofour generation,” Indra Nooyi, CEO of PepsiCo, said today in ane-mailed statement. “He could see beyond the horizon and set avision for the future, yet he also had the discipline, focus andagility to navigate uncertainties along the way. He was asrespected for his knowledge and intellect as he was for hischaracter and integrity.”

James J. Schiro was born on Jan. 2, 1946, in Brooklyn, New York,one of two children born to Joseph and Mary Schiro. He attended alocal school, St. John's University, on a scholarship from theKnights of Columbus and Citibank, graduating in 1967. He received amaster's in business administration from Dartmouth University,according to the Goldman Sachs biography.

In 1967 Schiro joined Price Waterhouse and held variouspositions, including managing partner of the New York office from1991 to 1995. He rose to chairman of Price Waterhouse and when thefirm merged with Coopers & Lybrand in 1998, he served as CEO ofNew York-based PricewaterhouseCoopers LLP, one of the world's fourbiggest accounting firms. He retired in 2001.

Survivors include his wife of 46 years, Tomasina; theirchildren, Justine and James Jr.; and a granddaughter,Elisabeth.

With assistance from Michael J. Moore in New York and DuaneD. Stanford in Atlanta.

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