Swiss Reinsurance Company Ltd. Chairman Peter Forstmoser will resign May 1–one year earlier than planned–and will be replaced by Vice Chairman and current Credit Suisse Chairman Walter B. Kielholz, the loss-battered company said.
Mr. Kielholz said he will relinquish his Credit Suisse chairmanship to concentrate fully on the "major challenges" facing the financially troubled company.
The change in chairman is the latest big personnel change in the wake of the global reinsurer's disclosure of a cascade of red ink on its balance sheet. On Feb. 12 the firm named Stefan Lippe to replace Jacques Aigrain as chief executive officer.
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