Allianz unveils board changes as Jung decides to leave after 26 years

German insurer Allianz has made changes to its board of management following Helga Jung's decision to not extend her appointment and retire at the end of December 2019.

Jung will leave after 26 years at Allianz and having served as member of the board of management for eight years. During this time, she served as head of group mergers and acquisitions (M&A) from 2000 to 2011. She was responsible for M&A, strategic participations, legal and compliance as well as the insurance business in Iberia and Latin America. She was the first woman to join Allianz SE’s board of management.

Renate Wagner, currently chief human resources officer at Allianz SE, has been appointed as Jung's successor from January 1, 2020, subject to regulatory approval.

Wagner joined Allianz SE as head of office for the chief financial officer (CFO) in 2013 and led the office of the chief executive officer (CEO) later. Prior to her current role, she was regional CEO for our life and health (L&H) business in Asia Pacific.

Michael Diekmann, chairman of the Supervisory Board of Allianz SE, said: “With Helga Jung retiring, we will lose a highly respected colleague who has left a lasting imprint on the Allianz group. Helga has been a driving force of Allianz’s international expansion through a series of strategic acquisitions, always carried out with sound judgement and great teamwork. Renate Wagner will ensure continuity on Board level with a unique combination of excellent finance and HR management skills, which underlines our strong internal succession pipeline for the Management Board at Allianz SE.”

Oliver Bäte, chairman of the board of management of Allianz SE, added: “Helga Jung will be missed as a valuable contributor and as a person of high integrity. While I am sad to see Helga leave, I am glad that we have a strong bench of new leaders from inside of Allianz and I welcome Renate Wagner to the Board. With Renate, we have nominated an experienced and energetic executive who will actively drive the future success of Allianz.”

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