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On the proposal of its committee members in charge of nominations, SCOR’s Board of Directors has unanimously decided to propose, at the Combined Shareholders’ Meeting of 27 April 2017, the renewal of Denis Kessler’s director mandate for a period of four years, with a view to his reappointment by the Board as Chairman and Chief Executive Officer of the Group.
Claude Tendil, Lead Independent Director and Chairman of SCOR’s Compensation and Nomination Committee, comments: “Under the impetus of Denis Kessler, SCOR has defined and successfully implemented five consecutive strategic plans, which have enabled it to rise to the top tier of major global reinsurers. Over the last ten years, SCOR has almost tripled its gross written premiums, with EUR 13.7 billion expected for 2016, while at the same time almost doubling its shareholders’ equity, which reached EUR 6.3 billion at the end of June 2016. Its rating by Standard and Poor’s has risen from BBB- in 2003 to AA- today. With the “Vision in Action” plan, SCOR affirms its ambitions for the next three years and the continuation of its strategy. By announcing its decision to propose the renewal of Denis Kessler’s mandate for four years at the 2017 Combined Shareholders’ Meeting, the Board of Directors has expressed its total confidence in the Executive Committee, as well as in all of the Group’s employees and their ability to achieve the objectives of this new plan.”
