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The Supervisory Board of Allianz SE decides on Board of Management mandates

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Oliver Bäte to become new CEO after 2015 Annual General Meeting


Munich, Oct 02, 2014

The Supervisory Board of Allianz SE today agreed to the request of Michael Diekmann (59) and Clement Booth (60) to not further extend their respective board appointments beyond the age limit of 60. Michael Diekmann will remain Chairman of the Board of Management of Allianz SE up to the Annual General Meeting (AGM) on May 6, 2015, the mandate of Clement Booth will end December 31, 2014. Upon mutual agreement and in keeping with his request, the board mandate of Gary Bhojwani (46) will end by December 31 of this year.

Oliver Bäte (49) has been appointed as new CEO of Allianz SE with effect from May 7, 2015. His contract has a duration until September 30, 2019. Oliver Bäte will continue to be responsible for Global Property and Casualty up to the AGM 2015.

The Supervisory Board appointed Dott. Sergio Balbinot (56) as a member of the Board of Management of Allianz SE for a duration of four years starting January 1, 2015. Sergio Balbinot will take over responsibility for the insurance business in the countries of western and southern Europe (France, Benelux, Italy, Greece, Turkey). Also effective beginning of next year Dr. Axel Theis (56) has been appointed as a member of the Board of Management of Allianz SE with a duration of four years. He will be in charge of the global industrial insurance business, credit insurance and the insurance business in Ireland and Great Britain. Starting May 7 he will also take over responsibility for Global Property and Casualty from Oliver Bäte.

Manuel Bauer’s (60) appointment will be extended for another year until the end of 2015. The appointments of Dr. Dieter Wemmer (57) and Dr. Werner Zedelius (57) will be extended by three years and the appointment of Dr. Helga Jung (53) by five years. Starting 2015 Manuel Bauer will also take over responsibility for the insurance business in Australia and as of the same date Jay Ralph (55) will take over responsibility for the insurance business in the USA in addition to his current responsibilities.

The Chairman of the Supervisory Board of Allianz SE, Dr. Helmut Perlet (67), thanks the departing members of the Board of Management on behalf of the entire Supervisory Board for their work: “Allianz owes gratitude to Gary Bhojwani, Clement Booth and, particularly, Michael Diekmann. Due to the excellent work of Michael Diekmann and his Board colleagues, Allianz is very well positioned today. As CEO Michael Diekmann decisively shaped and developed the company. He successfully steered Allianz through the financial crisis. We have asked him to be available for election to the Supervisory Board of Allianz SE at the AGM 2017 so that Allianz can continue to benefit from his skills and experience.”

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