German insurer Allianz SE (AZSEY.PK) said that it has appointed Oliver Bäte, aged 49, as its Chief executive Officer, with effect from May 7, 2015. His contract has a duration until September 30, 2019. Oliver Bäte will continue to be responsible for Global Property and Casualty up to the Annual General Meeting 2015.
Allianz SE said that its Supervisory Board agreed to request Michael Diekmann (59) and Clement Booth (60) not to further extend their respective board appointments beyond the age limit of 60.
Michael Diekmann will remain Chairman of the Board of Management of Allianz SE up to the Annual General Meeting or AGM on May 6, 2015, the mandate of Clement Booth will end December 31, 2014. Upon mutual agreement and in keeping with his request, the board mandate of Gary Bhojwani , aged 46, will end by December 31 of this year.
The Supervisory Board appointed Dott. Sergio Balbinot (56) 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, Turkey).
Also effective beginning of next year Axel Theis (56) 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 will also take over responsibility for Global Property and Casualty from Oliver Bäte.
Manuel Bauer's (60) appointment will be extended for another year until the end of 2015. The appointments of Dr. Dieter Wemmer (57) and Dr. Werner Zedelius (57) will be extended by three years and the appointment of Dr. Helga Jung (53) by five years.
Starting 2015 Manuel Bauer will also take over responsibility for the insurance business in Australia and as of the same date Jay Ralph (55) will take over responsibility for the insurance business in the USA in addition to his current responsibilities.
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