Jacques de Vaucleroy, currently the Vice Chairman of Swiss Re’s Board of Directors, was selected to continue leading the Board and was proposed as the new Chairman for election at the next Annual General Meeting (AGM) in April 2024.
The decision was made by the Governance and Nomination Committee, headed by Joerg Reinhardt.
“Jacques (de Vaucleroy) emerged as the Board’s preferred successor,” said Reinhardt. “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,” he added.
The succession process for a new chairperson was initiated after Sergio P. Ermotti resigned as Chairman on April 30th 2023. De Vaucleroy will serve as Vice Chairman until the AGM in April 2024, during which time he will step down from most of his external commitments to fully dedicate himself to leading the Board of Directors.
In line with best governance practices, de Vaucleroy will relinquish his positions as Lead Independent Director and Chairperson and Member of the Compensation Committee. Reinhardt will assume the role of Lead Independent Director, while Jay Ralph will chair the Compensation Committee, effective immediately.
With over three decades of experience in the insurance industry, de Vaucleroy, who was born in Belgium in 1961 was elected to the Swiss Re Board of Directors in 2017.
“Swiss Re will continue to be fully determined to execute its strategy and achieve its financial target,” said de Vaucleroy. “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,” he added.
Throughout his career, he has held key positions in banking, asset management, and insurance. Additionally, de Vaucleroy serves on the boards of various organizations, including Fidelity International Limited, Eight Roads Holdings Limited, Colt Technology Services Group plc, and Everex SA.
He also holds the position of Chairman of the Supervisory Board of Heraclius Topco BV and is involved with two non-profit organizations, the Simõn I. Patiño Foundation and TADA.
