Dissatisfied with the way
Zurich conducted the probe into her husband’s suicide, Fabienne Wauthier—widow of former chief financial officer Pierre Wauthier—plans to attend the global insurer’s annual general meeting today to confront company officials.
According to a Reuters report, Mrs. Wauthier was never approached by the law firm Homburger, which carried out the investigation into the CFO’s August suicide. Homburger was commissioned by Swiss financial regulator FINMA to determine if Wauthier experienced any “undue pressure” in his post. The conclusion was negative.
Mrs. Wauthier, however, told Reuters she was concerned by the message former Zurich Chairman Josef Ackermann sent when he stepped down following Wauthier’s death. Ackermann, said to be mentioned in Wauthier’s suicide note as creating an unbearable work environment, denied responsibility but called the CFO’s death a “very tragic event.”
If Ackermann did not accept blame, Mrs. Wauthier wants an explanation as to why Ackermann resigned and a reconsideration of the probe was actually complete. She will attend the annual general meeting with her daughter and her late husband’s mother and brother.
“We are not going there for money nor revenge,” she said. “We have asked Zurich to do the right thing.”
Mrs. Wauthier disclosed that her husband had long been disillusioned with the atmosphere at Zurich. By June, he had begun looking around for alternatives outside the company despite holding what he once described as his “dream job.”
At the same time, he met with Zurich’s human resources department and told the team he was suffering from excessive stress. However, he said he hoped to recover during his upcoming two-week summer vacation.
Zurich HR denied that Wauthier gave any sign he was about to take his own life.
“If [he] had, we would have immediately taken action,” a company spokesman said.
When approached for comment regarding Mrs. Wauthier’s version of events, Zurich spokesman Angel Serna told Reuters, “We are still saddened by what has happened, and we will never know the reasons for his irreversible decision.”
Zurich was deeply shaken by the August suicide, with speculation on financial malfeasance initially surfacing before the event generated a discussion of the high-pressured lifestyle of an insurance executive.
Wauthier has since been replaced with CFO George Quinn, a former regional CFO for
Swiss Re Americas. The insurer has struggled to meet profit expectations in the fallout, chalking up a missed third-quarter result to a $600 billion overhaul of its business.
In March, it announced it would slash roughly 800 jobs in order to streamline operations.
You may also enjoy: "Zurich cleared of involvement in group CFO suicide"
"New CFO to take the reins at Zurich following August suicide"
"Global insurer to insurer to slash 800 jobs"
