Allianz announces extension of chief executive Oliver Bäte's tenure

Successor to exiting CFO also revealed

Allianz announces extension of chief executive Oliver Bäte's tenure

Insurance News

By Terry Gangcuangco

Allianz chief executive Oliver Bäte (pictured) will remain at the helm of the company following the renewal of his mandate until the global insurance group’s annual shareholders meeting in 2028.

“The supervisory board fully endorses the continuation of Oliver Bäte’s leadership, supported by his colleagues in the board of management, to maintain Allianz’s sustainable and profitable growth, to further develop its thriving and productive workforce, and sharpen its competitive positioning for the future,” Allianz SE supervisory board chairman Michael Diekmann said in an emailed release.

As CEO, Bäte holds the position of chairman of Allianz SE’s board of management. He has been a member of the management board since 2008; chair since 2015.     

“I thank the supervisory board for their confidence and support, and I look forward to continuing to serve the stakeholders of Allianz in a changing world,” Bäte commented.

Next finance chief

Chief financial officer Giulio Terzariol, meanwhile, is leaving the German insurer to pursue a career opportunity in his home country Italy. He will be succeeded by Claire-Marie Coste-Lepoutre, who will join the board of management in the New Year.

Coste-Lepoutre currently serves as chief actuary and planning & controlling head. Her previous roles include CFO and deputy chief executive of Allianz Global Corporate & Specialty.

Bäte noted: “Giulio has been a wonderful colleague, leader, and friend who brought excellence and integrity to every aspect of his portfolio. We would have loved to retain him, but we respect his personal decision and know that he will be successful in his next role.

“As we look ahead to Allianz’s next chapter of growth, we are fortunate to have proven and high performing leaders such as Andreas on our board.

“We are also fortunate to have strong and talented leaders such as Claire-Marie in the succession and development pipelines across our company. She has been working closely with Giulio on a seamless continuation of leadership and is fully ready to step into her new role.”

The CEO was referring to management board member Andreas Wimmer, who is in charge of life and asset management and whose mandate has been renewed and extended until September 30, 2029.

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