Zurich Financial Services Group announced that Chief Operating Officer Peter Eckert will retire at the end of this month.
The Zurich, Switzerland-based insurer said Mr. Eckert has had 25 years with the company, joining in 1980 as chief executive officer of Zurich's Portuguese subsidiary, followed by an assignment as CEO of Zurich Australia. He was named Group COO in 2002.
“Peter served as an invaluable source of advice, judgment and support, and his tireless commitment to the group and its people was exemplary,” said James J. Schiro, Zurich's CEO.
In November, the company announced that in preparation for Mr. Eckert's retirement it promoted two executives: Patrick O'Sullivan to vice chairman group management board and chief growth officer, and Dieter Wemmer to become the group's chief financial officer. Both appointments are effective March 1.
For the time being, the company said it will not fill the COO position.
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