Reshuffle at Ergo and Allianz boards

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German insurer Ergo has confirmed that its chairman of the board,  Torsten Oletzky, will leave the business at the end of the year, he is set to be replaced by Markus Rieß, CEO at Allianz Germany, he has also been appointed to Ergo parent Munich Re’s board of management.

Rieß is to succeed Oletzky as Chairman of ERGO’s Board of Management with effect from 1 October 2015. His appointment to Munich Re’s Board of Management is planned for the same date, subject to approval by the Supervisory Boards of both ERGO and Munich Re.

Nikolaus von Bomhard, chairman of ERGO’s Supervisory Board and CEO of Munich Re comments on the planned personnel change: “Torsten Oletzky leaves an enduring legacy as Chairman of ERGO’s Board of Management. Combining the operations of once autonomous companies under the ERGO brand has already proved to be a lasting success.”

With regard to Rieß’ appointment, von Bomhard stresses: “Markus Rieß, who has impressively demonstrated his managerial capabilities at the helm of Germany’s market leader, will be a worthy successor as Chairman of ERGO’s Board of Management. The time has come to reflect the integration of Munich Re’s various business fields by establishing ERGO’s presence on its parent company’s Board of Management.”

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