Trade credit insurer Euler Hermes has named its new chief financial officer, chief operating officer, and head of market management.
Chantal Schumacher is appointed group chief financial officer with immediate effect and a member of the board of management, effective 1 April.
Schumacher joins from Allianz Re where she was chief financial officer and replaces Clarisse Kopff, who is leaving the company to take on a new role as chief financial officer at Allianz France.
Michael Eitelwein joins group chief operating officer with immediate effect and a member of the board, effective 1 April. Eitelwein joins from Allianz where he was head of group enterprise architecture.
As head of market management, Michele Pignotti’s will also control of commercial & distribution activities effective 1 April 2018.
As head of market management since 2016, Pignitti replaces Paul Overeem, who is retiring in March 2018.
Wilfried Verstraete, chairman of the Euler Hermes, said: “Euler Hermes’ employees join me in thanking Clarisse, Paul and Ludovic for their strong commitment to the group. We’re wishing them all the best and every success for their future plans.”
He added: “I am delighted that Chantal Schumacher and Michael Eitelwein are joining us as driven, highly-competent and respected professionals with strong international experience.
“Together with Virginie Fauvel, our recently nominated chief transformation officer, and the other members of the board of management, they will contribute with their vision and their energy to our focus towards shifting the gears on our transformation”.
The news follows the release the trade credit insurers 2017 financial results, which saw Euler Hermes report a 10% boost in group net income for the year.
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