Benoit Ribadeau-Dumas succeeds Denis Kessler as SCOR's CEO

17 December 2020 —
On the committee's recommendation, SCOR's Board of Directors has decided to separate the roles of Chairman and Chief Executive Officer. The separation will come into full effect following the General Meeting in the spring of 2022.

The Board of Directors has unanimously chosen Benoit Ribadeau-Dumas as the next Chief Executive Officer of SCOR. With effect from January 1, 2021, Benoit Ribadeau-Dumas will become Deputy Chief Executive Officer of SCOR and as such will join the Group's Executive Committee. The Board of Directors will propose that he join the Board at the 2021 General Meeting, with a view to becoming Chief Executive Officer following the General Meeting in 2022.

The Board has unanimously expressed the wish that Denis Kessler continue his work as Chairman, and a resolution to this effect will be submitted to the 2021 General Meeting. Denis Kessler will remain Chief Executive Officer of SCOR until Benoit Ribadeau-Dumas is appointed to the post in the spring of 2022.

Augustin de Romanet, Lead Independent Director of SCOR, comments:

"Throughout the process of preparing for developments in SCOR's governance, the nomination committee has striven to follow best corporate governance practices, and I would like to thank its members for their unfailing dedication. Since 2002, Denis Kessler has shaped SCOR, turning it around in an outstanding way and subsequently establishing it as the world's fourth largest reinsurer, with a rating of AA-. By choosing Benoit Ribadeau-Dumas, a very high-profile figure well known for his intellect and his leadership, the Board of Directors confirms its high level of ambition for SCOR."

Denis Kessler, Chairman & Chief Executive Officer of SCOR, comments:

"I would like to sincerely thank Augustin de Romanet, Lead Independent Director, as well as all the members of the nomination committee, for the extremely thorough work they have carried out over the past few months. I have every confidence in Benoit Ribadeau-Dumas to ensure SCOR's success over the coming years, and in particular to guarantee its long-term development with the twofold target of profitability and solvency. As we embark on the transition process, he can count on my full support."

Benoit Ribadeau-Dumas comments:

"I am honored by the confidence the Board of Directors has placed in me as their choice for the next Group CEO. I am thrilled to be joining SCOR - whose teams are widely recognized for their high quality - and the (re)insurance sector, which is a fascinating and demanding industry. Together, serving our clients throughout the world, we will pursue SCOR's development with passion."