Oliver Bäte has been appointed the new chief executive officer of Allianz SE, effective from May 7, 2015. His contract has a duration until September 30, 2019. Mr. Bäte will continue to be responsible for global property and casualty up to the annual general meeting on May 6, 2015.
The company also announced that its supervisory board has asked that Michael Diekmann (age 59) and Clement Booth (age 60) not further extend their respective board appointments beyond the age limit of 60. Mr. Diekmann will remain chairman of the board of management of Allianz SE up to the annual general meeting on May 6, 2015 and the mandate of Mr. Booth will end on December 31, 2014. Upon mutual agreement and in keeping with his request, the board mandate of Gary Bhojwani will end by December 31 of this year, the company also said.
The supervisory board has appointed Dott. Sergio Balbinot as a member of the board of management of Allianz SE for a duration of four years, starting January 1, 2015.
Sergio Balbinot will take over responsibility for the insurance business in the countries of western and southern Europe (France, Benelux, Italy, Greece, and Turkey).
Also effective at the beginning of next year, Dr. Axel Theis has been appointed as a member of the board of management of Allianz SE with a duration of four years. He will be in charge of the global industrial insurance business, credit insurance, and the insurance business in Ireland and Great Britain. Starting May 7 he also will take over responsibility for global property and casualty from Mr. Bäte.
Manuel Bauer's appointment will be extended for another year until the end of 2015. The appointments of Dr. Dieter Wemmer and Dr. Werner Zedelius will be extended by three years and the appointment of Dr. Helga Jung by five years. Starting 2015, Mr. Bauer also will take over responsibility for the insurance business in Australia and as of the same date Jay Ralph will take over responsibility for the insurance business in the United States in addition to his current responsibilities.
The chairman of the supervisory board of Allianz SE, Dr. Helmut Perlet, thanked the departing members of the board of management on behalf of the entire supervisory board for their work, stating, “Allianz owes gratitude to Gary Bhojwani, Clement Booth and, particularly, Michael Diekmann. Due to the excellent work of Michael Diekmann and his board colleagues, Allianz is very well positioned today. As CEO Michael Diekmann decisively shaped and developed the company. He successfully steered Allianz through the financial crisis. We have asked him to be available for election to the supervisory board of Allianz SE at the annual general meeting 2017 so that Allianz can continue to benefit from his skills and experience.”
Learn more: www.allianz.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].