Insurance companies Baloise brings critic onto the Board of Directors
There will be changes to the Board of Directors at Baloise Insurance. Two members are leaving and three new ones are to join the ten-member board - including a fierce critic of the company.
09.12.2024, 07:57
SDA
Robert Schuchna is to represent the major shareholder Cevian Capital on the Baloise Board of Directors in future, according to a press release issued on Monday. The German-Swiss dual national is 36 years old and has been working for the Swedish investment company for 11 years. According to the latest information, Cevian holds just under 10 percent of Baloise.
Schuchna has emerged as a critic of the company in the past. In September, he described the strategy presented at the time as inadequate. "For Baloise to become a first-class Swiss insurance company, it needs real focus and real ambition," Schuchna said at the time. This was not evident in the new strategy.
CS veteran
In addition to him, André Helfenstein and Vincent Vandendael are to be newly elected to the Board. André Helfenstein was a veteran of the defunct Credit Suisse. Most recently, he was CEO of the Swiss business and a member of the Executive Board of the CS Group.
The Belgian Vandendael, on the other hand, is an insurance expert who has worked for Zurich Insurance, Chubb, Lloyd's of London and Everest. He currently also sits on the Board of Directors of Baloise Belgium, but will relinquish this role in favor of the new position on the Group Board of Directors.
Meanwhile, current Board members Christoph Gloor and Hans-Jörg Schmidt-Trenz will not be standing for re-election at the Annual General Meeting (AGM), as the press release explains. The AGM will take place on April 25, 2025.
