SCOR switches CEO plan to insider Rousseau. Kessler to depart early

SCOR switches CEO plan to insider Rousseau. Kessler to depart early

SCOR, the French worldwide reinsurance group, has altered and accelerated its CEO succession strategies, with insider Laurent Rousseau now set to take on the position from July, bringing forward Denis Kesslers departure from the role.Back in December, SCOR had actually announced that French political advisor Benoît Ribadeau-Dumas was selected to succeed Kessler into the Chief Executive Officer role, bringing an outsider without particular insurance and reinsurance market experience into view.
Ribadeau-Dumas was being lined up to handle the role from 2022, now the business has accelerated its prepare for succession, with Kessler picking to leave from the CEO function at the end of June since of mentioned personal factors.
The CEO successor will now be business insider Laurent Rousseau, the existing Deputy Chief Executive Officer of SCOR Global P&C and Chairman of SCOR Europe, likewise a member of the Group Executive Committee.
The relocation involves a separation of the functions of Chairman of the Board and Chief Executive Officer one year earlier than initially planned, but Denis Kessler is now lined up to handle a non-executive Chairman function after the SCOR General Meeting of June 30th 2021, which the Board stated will help to guarantee tactical continuity.
So Kessler will end his CEO tasks at SCOR at the end of his present term of workplace, which is due to expire at the General Meeting of June 30th 2021.
On the change of plans to an expert as CEO successor, SCORs Board said, “While recognizing and commending his strong dedication and effective combination during his very first few months at SCOR, the Board of Directors has actually come to the conclusion that the conditions are not fulfilled for Benoît Ribadeau-Dumas, who had not worked in the insurance coverage or reinsurance sector before joining the Group, to take up the position of Chief Executive Officer of SCOR in June 2021.”
Rousseau has actually held senior positions at SCOR for the past eleven years, with 20 years of market experience and SCORs Board said he has “all the qualities and abilities needed to end up being Chief Executive Officer of SCOR.”
Rousseau was among three candidates advanced in succession preparation conducted in 2019 and 2020 and the Board likewise proposes he be designated as a Director of the Group.
Kessler said, “For nineteen years, I have actually devoted my life to reinsurance in general, and to SCOR in specific. This is an interesting and demanding market, incredibly advanced and underpinned by science. SCOR has ended up being a global Tier 1 business that is successful, has a high level of solvency, and is growing continually.
” I would like to best regards thank the Groups clients, shareholders and all its staff members for their assistance and their trust over all these years. The succession revealed in December 2020 by the Board on the recommendation of the Nomination Committee, can not occur as planned. I want to thank Benoit Ribadeau-Dumas for all the effort he has made to incorporate into the business and the sector.
” I have every confidence in Laurent Rousseau, a seasoned and recognized (re) insurance specialist with whom I have actually worked for more than eleven years, to make sure SCORs success and to guarantee its long-lasting advancement, with the twofold target of profitability and solvency. Laurent will remain true to the concepts and values that comprise the Groups DNA, while offering it brand-new momentum in the current health and recession. All the members of the Executive Committee, highly experienced reinsurance professionals, together with the Groups 3,000 workers throughout the world, will be joined in assisting him to take SCOR to the next level. Laurent can depend on my complete assistance as Chairman of the Board.”
Augustin de Romanet, Lead Independent Director of SCOR, commented on the choise, “On behalf of the Compensation and Nomination Committee, I would like to thank Denis Kessler most warmly for having actually effectively led SCORs advancement because 2002. I am confident that Laurent Rousseau has all the qualities necessary to be successful Denis as Chief Executive Officer of SCOR.”
Laurent Rousseau said on his consultation, “I am honored by the self-confidence the SCOR Board of Directors has put in me by choosing me as the next Chief Executive Officer of the Group. The whole Executive Committee and I are identified to actively pursue the growth of the company for whose operations we will now be responsible. I firmly believe that SCOR is well positioned to satisfy the demands of our clients and to satisfy our shareholders in an increasingly dangerous world, with its very deep talent swimming pool, proficiency of the most advance innovations, shown agility to constantly adapt, advanced danger management, and excellent ESG performance. Because 2002, the Group has actually aimed to be a Tier 1 international reinsurer. That goal remains intact. We will satisfy these challenges with dynamism and interest, bringing our groups together to serve all our stakeholders.”

Kessler said, “For nineteen years, I have dedicated my life to reinsurance in general, and to SCOR in particular. All the members of the Executive Committee, highly skilled reinsurance experts, along with the Groups 3,000 workers throughout the world, will be unified in assisting him to take SCOR to the next level. Augustin de Romanet, Lead Independent Director of SCOR, commented on the choise, “On behalf of the Compensation and Nomination Committee, I would like to thank Denis Kessler most warmly for having actually effectively led SCORs development given that 2002. I am confident that Laurent Rousseau has all the qualities necessary to be successful Denis as Chief Executive Officer of SCOR.”
Laurent Rousseau stated on his visit, “I am honored by the self-confidence the SCOR Board of Directors has actually positioned in me by choosing me as the next Chief Executive Officer of the Group.

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