Institutional Shareholder Services (ISS) is urging Swiss Re investors not to have Sergio Ermotti re-elected as chair.
A report by the Financial Times said ISS described Swiss Re’s board as “insufficiently gender-diverse,” with the proxy advisory firm recommending that shareholders of the major reinsurer oppose the board’s proposal to keep Ermotti’s chairmanship.
Swiss Re, which is holding its annual general meeting (AGM) on April 13, is overseen by a board of directors made up of 10 men and three women.
On March 17, the company stated: “In line with Swiss Re’s diversity, equity, and inclusion