Swiss Re CEO announces early retirement

by Richard Kilner

Story link: Swiss Re CEO announces early retirement

The Board of Directors of Swiss Re has announced that Stefan Lippe has decided to step down as chief executive officer during 2012.

Chairman of the Board of Directors Walter Kielholz said that the Board regretted Lippe’s decision to take early retirement after almost three decades with Swiss Re.

Kielholz went on to say that Lippe had led the firm through tough times, following his appointment as CEO in 2009, and helped to turn around the firm.

He added that during Lippe’s leadership the firm had bolstered its capital strength and regained the AA- rating with Standard & Poor’s.

Lippe himself said that during his time with Swiss Re the firm had offered him a range of exciting opportunities, and said that all the ambitious targets made when he became CEO had been achieved, attributing the success to the hard work of Swiss Re’s staff.

Lippe said that the time was right for his resignation announcement, and that it would give the Board sufficient time to find a successor.