Josef Ackermann, chairman of the board of directors of the Swiss insurance group Zurich, announced his resignation "with immediate effect", following the death of Pierre Wauthier, chief financial officer of the company, who according to the police would have taken his own life.
"The unexpected death of Pierre Wauthier has deeply affected me" said Ackermann, former CEO of Deutsche Bank, "and I have reason to believe that his family is of the opinion that I have to take part in the responsibilities".
The Zurich Stock Exchange, however, would seem to have welcomed Ackermann's resignation, promptly replaced by the current vice president Tom de Swaan. In fact, on a generally positive day for the European markets, the Zurich stock fell by 1,62, after falling by around 4% in the early morning.
