NU Online News Service, May 12, 10:20 a.m. EST
PartnerRe Ltd. announced that Jean-Paul Montupet has been named board chairman replacing John Rollwagen, who will remain a member of the board.
The Bermuda-based multiline reinsurer said that Mr. Montupet first joined its board in 2002 and has served on the Nominating and Governance, Risk and Finance, Human Resources and Compensation Committees.
Mr. Montupet has been an executive vice president of St. Louis-based manufacturing and technology firm Emerson since 1990, and he is currently in charge of the Industrial Automation Business and of Emerson Europe; he is also an advisory director of Emerson. In addition, Mr. Montupet is a director of Lexmark International, Inc.
Mr. Rollwagen commented in a statement that, "Following nine years of progressive growth in strength and position for PartnerRe, I am ready to hand over the position of chairman."
He said in the three terms he served as chairman he was most proud of the work the board did to fully develop its corporate governance practices.
Mr. Montupet thanked Mr. Rollwagen for his nine years of service.
He said that following the $2 billion acquisition of Paris Re in 2009 and against the backdrop of changes in the industry, "the next few years will be critical in PartnerRe's evolution."
"I look forward to continuing the work we have initiated at the board level to address the opportunities ahead. In the position of chairman, I know I will benefit from the expertise and insight that exists among my fellow board members," he said.
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