Baloise brings critics onto the Board of Directors
Published: Monday, Dec 9th 2024, 09:00
Back to Live Feed
Baloise Insurance is making changes to its Board of Directors. Two members are leaving and three new ones are to join the ten-member board - including a fierce critic of the company.
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
André Helfenstein and Vincent Vandendael are to be elected to the Board alongside him. 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 job on the Group Board of Directors.
The current members of the Board of Directors Christoph Gloor and Hans-Jörg Schmidt-Trenz will not be standing for re-election at the Annual General Meeting (AGM), according to the press release. The AGM will take place on April 25, 2025.
©Keystone/SDA
English 
German 
French 
Spanish 
Arabic