- Push-out Score determined
- After almost 10 years in the position
- Accolades, praise and thanks for Wallin
(exechange) — Hannover, Germany, August 22, 2018 — Ulrich Wallin, chief executive of Hannover Re, hands over the reins. As announced by Hannover Rück SE in a news release on Wednesday, August 22, 2018, Ulrich Wallin leaves his post as Chief Executive Officer at the third-largest reinsurance company in the world after almost 10 years in the role, effective May 8, 2019.
It is a long goodbye. The announcement of Wallin’s move comes up to nine months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure very early may be considered a lame duck.
Wallin’s duties will be taken over by Jean-Jacques Henchoz, currently head of the region Europe, Middle East and Africa (EMEA) of Swiss Re.
The fact that Wallin’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
“In accordance with the Company’s statutes”
Wallin’s departure from the CEO post is explained as follows. Hannover Re said: “Ulrich Wallin will retire in accordance with the Company’s statutes.”
Precise information about Wallin’s future plans was not immediately available.
Hannover Re said: “On [May 8, 2019], Ulrich Wallin will retire in accordance with the Company’s statutes, after his extremely successful service to Hannover Re.”
Share price rise since November 2008
The change follows a rise in the share price of Hannover Rück SE since November 2008.
Chaired by Herbert K. Haas
Hannover Rück SE is chaired by Herbert K. Haas.
Herbert K. Haas serves as Chairman of the Supervisory Board Hannover Rück SE.
In the position of CEO since 2009
Ulrich Wallin has been the Chief Executive Officer of Hannover Rück SE since July 01, 2009.
Wallin’s CV reads as follows:
Year of Birth: 1954
Responsibilities: Innovation Management, Compliance; Controlling; Corporate Communications; Corporate Development; Human Resources Management; Internal Auditing; Risk Management
Since 2009: Chief Executive Officer of Hannover Rück SE, Hannover, Germany
2001 – 2009: Member of the Executive Board of Hannover Rück SE, Hannover, Germany
2000 – 2001: Managing Director, Hannover Re Group, Hannover; Responsibility for Hannover Re’s worldwide facultative property and casualty business in addition to worldwide aviation and marine business
1996 – 2000: Vice President, Hannover Re Group, Hannover; Worldwide aviation and marine business
1987 – 1996: Integration of E+S Rück’s Foreign Section into Hannover Re’s group of US departments: Various responsibilities primarily in the areas of aviation and space as well as US liability business
1984 – 1987: E+S Rückversicherung AG, Hannover, Germany; Treaty specialist in the Foreign Section, establishment of the aviation reinsurance portfolio
1982 – 1984: HDI Haftpflichtverband der Deutschen Industrie V.a.G., Hannover, Germany
1974 – 1982: Law studies at Hamburg University; Second Final Exam in Law (Assessor).
Push-out Score determined
Read the full story in the exechange report 35.2018 ($).