Eight days after Swiss Re announced it sustained an $860 million loss last year, and needed a Berkshire Hathaway $2.6 billion capital infusion, the company said it has replaced its chief executive officer, Jacques Aigrain.
The Zurich, Switzerland-based reinsurance giant said Deputy Chief Executive Officer and Chief Operating Officer Stefan Lippe will take over as CEO.
Mr. Aigrain, who joined Swiss Re in 2001, was appointed CEO on Jan. 1, 2006. The company said he will support the transition to Mr. Lippe through Wednesday, along with a statement from Mr. Aigrain.
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