Munich Re says CEO to step down next year

15th March 2016, Comments 0 comments

Munich Re, the world's biggest reinsurer, said Tuesday that its chief executive Nikolaus von Bomhard is stepping down next year after 13 years as the group's head.

"At its meeting today, the supervisory board accepted the request by CEO Nikolaus von Bomhard to leave the board of management -- and also to step down as CEO -- on April 26, 2017, which is the date of the 2017 annual general meeting," Munich Re said in a statement.

Von Bomhard would be replaced as CEO by the current head of Munich Re's international life reinsurance business and human resources chief, Joachim Wenning, 51, the statement said.

Von Bomhard, who turns 60 this year, has been CEO since 2004.

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© 2016 AFP

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