SCOR now replaces chief executive’s successor

SCOR now replaces chief executive’s successor | Insurance Business

SCOR now replaces chief executive’s successor

Image credit: Cyril Bailleul

It was last December when international reinsurance group SCOR announced the successor to outgoing chief executive Denis Kessler; now someone else has been tapped to take on the top spot a year earlier than previously scheduled.

The original plan was a change in leadership in 2022, with Benoît Ribadeau-Dumas supposedly assuming the CEO post next year. However, the company’s board met on May 17 and announced a change in plans. 

“Benoît Ribadeau-Dumas had been appointed deputy chief executive officer with effect from January 01, 2021, with a view to becoming chief executive officer following the general meeting in 2022,” noted the major reinsurer in its update.

“While recognizing and commending his strong commitment and successful integration during his first few months at SCOR, the board of directors has come to the conclusion that the conditions are not met for Benoît Ribadeau-Dumas, who had not worked in the insurance or reinsurance sector before joining the group, to take up the position of chief executive officer of SCOR in June 2021.”

On the recommendation of the compensation and nomination committee, Laurent Rousseau (pictured) was unanimously chosen as the replacement successor. Rousseau, who is “honoured by the confidence” placed in him, currently serves as deputy CEO of the group’s global property and casualty operations and also chairs SCOR Europe.

The Paris-headquartered firm went on to highlight: “The board of directors considers that Laurent Rousseau, who has held senior positions within the group for the past 11 years and benefits from 20 years of experience in the (re)insurance sector in London and Paris, has all the skills and qualities necessary to become chief executive officer of SCOR.

“Laurent Rousseau was one of three candidates selected by the compensation and nomination committee as part of the chairman and CEO succession planning conducted in 2019 and 2020. In addition to this appointment, the board of directors will propose to the 2021 General Assembly that Laurent Rousseau be appointed as a director of the group.”

Meanwhile Kessler – who, for personal reasons, is relinquishing his CEO duties at the end of his current term of office which is expiring on June 30 – will be appointed as non-executive chair.