Next spring will bring big changes to the group executive board at Swiss Life. The long-serving CEO will step down and is to join the supervisory board after two years. A manager from within the group will take over.
Patrick Frost will leave his role as group CEO of the insurance group Swiss Life in spring 2024. According to a press release on Monday, he intends to resign from his office on May 15, 2024, at the annual general meeting.
As Chief Investment Officer (CIO), Frost joined the group executive board in 2006 and took over the management of the group as CEO on July 1, 2014. The press release further states that he is stepping down of his own wishes.
CFO to Take Over
His successor will be the group’s current Chief Financial Officer (CFO), Matthias Aellig (image below). He has been actively involved in key roles for Swiss Life since 2010, first as Group Chief Risk Officer, and then as CFO since 2019.
(Image: Swiss Life)
The group has also already chosen the new CFO. Marco Gerussi (image below) will take on this position. This changeover is also to take place on May 16, 2024. He joined Swiss Life in 2010 and held management roles in risk management and finance. Since 2018, in his role as Head of Finance Transformation, he has been responsible for introducing IFRS Accounting Standards 17/9 as well as the associated company-wide finance systems. This year, he also took over as Head of Group IT.
(Image: Swiss Life)
Focusing on Strategic Tasks
«After serving for 18 years on the group executive board of Swiss Life, ten of which as CEO, I have decided to step down from my operational role in May 2024 to focus more on strategic tasks,» Frost said. «Considering the excellent development of our company, I am certain that this is the right time for change at the top of the executive board».
After a period of transition, Frost is to take on another role for the group. The Swiss Life supervisory board would like to propose Frost as a new member at the 2026 annual general meeting.
