Jacques de Vaucleroy, vice chairman, Swiss Re
After careful consideration, the reinsurer’s Governance and Nomination Committee under the lead of Joerg Reinhardt concluded that Jacques de Vaucleroy be proposed for election as the new Swiss Re Chairman at the next AGM in April 2024. This was fully endorsed by the members of the Board of Directors
Zurich:
After extensive identification and rigorous selection process involving several external candidates Swiss Re, the second largest global reinsurer, has decided to elevate its current vice chairman, Jacques de Vaucleroy, as chairman of the company.
Swiss Re’s Board of Directors launched a thorough succession process for a new chairperson after Sergio P. Ermotti’s resignation as Chairman on 30 April 2023.
After careful consideration, the reinsurer’s Governance and Nomination Committee under the lead of Joerg Reinhardt concluded that Jacques de Vaucleroy be proposed for election as the new Swiss Re Chairman at the next AGM in April 2024. This was fully endorsed by the members of the Board of Directors.
Jacques de Vaucleroy has over 30 years’ experience in the insurance industry. He was elected to the Board of Directors of Swiss Re in 2017. He currently chairs the Compensation Committee and the Governance and Nomination Committee. He is also Chairman of the Board of Directors of Swiss Re Europe S.A. and Swiss Re International SE.
He graduated with a Master’s degree in Law from the Université Catholique de Louvain, Belgium, and a Master’s degree in Business Law from the Vrije Universiteit Brussel, Belgium.
Joerg Reinhardt said: “I am delighted that the Board of Directors proposes Jacques de Vaucleroy, who currently acts as chair ad interim, as next Chairman of Swiss Re. From the selection process, which involved several external candidates, Jacques emerged as the Board’s preferred successor. I am convinced that his in-depth knowledge, his outstanding experience in the industry and his thorough acquaintance with Swiss Re will be of great value.”
Jacques de Vaucleroy said: “I feel honoured by this nomination. Swiss Re will continue to be fully determined to execute its strategy and achieve its financial targets. The company’s excellent client franchise, the very strong capital position and our simplified, nimbler organisation enable us to bring the best of our firm to clients, investors, and employees.”
Until the next AGM in April 2024, Jacques de Vaucleroy will continue to lead the Swiss Re Board of Directors in his current capacity as vice chairman. He will make this his “cornerstone” mandate and step down from most of his external mandates to ensure the capacity and time commitment required by the Chairman role.
To follow best governance practice, Jacques de Vaucleroy will step down as Lead Independent Director and as Chairperson and Member of the Compensation Committee. Joerg Reinhardt shall become the Lead Independent Director and Jay Ralph chair the Compensation Committee, both appointments with immediate effect. Jacques de Vaucleroy will also step down as Chairman of the Board of Directors of Swiss Re Europe S.A. and Swiss Re International SE, once a successor has been selected.
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