Italy’s Generali insurance giant is reshuffling its executive board in Switzerland to improve the company's competitiveness. It is adding three new members to the committee, while two have decided to leave.
Chief Executive Andreas Kruemmel at Generali Switzerland has initiated a major redo of his management team, according to a statement released on Friday. Sepp Ruchti, head of distribution, Patrick Deucher, head of sales reps and Ralph Schmid, head of life and pension, are new members of the executive board starting in January 2020.
Chief Investment Officer René Schmidli and Chief Distribution Officer Roger Jansen are leaving the company. Schmidli’s deputy, Michael Baenziger, was appointed CIO ad interim, while Jansen’s job will disappear with the promotion of Ruchti and Deucher.
Bid to Improve Competitiveness
The restructuring of the management will move the front-facing units closer together and improve the competitiveness of Generali, said the company in the statement.
Generali has had a Swiss unit since 1987. It operates two headquarters in Adliswil and Nyon and has more than 1 million clients in the country.
