Siemens CEO Roland Busch and former Bundesbank President Jens Weidmann are to join Munich Re’s supervisory board. The reinsurer’s control committee has proposed Busch and Weidmann as the most prominent additions for the upcoming new election at the general meeting on April 25, as can be seen from the published agenda. Nikolaus von Bomhard, who led the Munich DAX group as CEO until 2017, will remain chairman of the supervisory board. Munich Re, founded in 1880, is one of the most respected addresses in the German financial industry.
Weidmann was Bundesbank President until 2021 and has been Chairman of the Supervisory Board of Commerzbank since last year. He also works for the Swiss foundation of Klaus-Michael Kühne, the fifth richest German, and is a member of the board of trustees of the Dieter Schwarz Foundation with a focus on education and science. This is one of the largest family foundations in Europe and is financed from the profits of the Schwarz Group, which also includes Lidl and Kaufland. As Siemens boss, Busch is virtually a neighbor of Weidmann – the corporate headquarters of Commerzbank and Siemens are only a good two kilometers apart.
So far, an incumbent DAX board chairman is a member of the Munich Re supervisory board: Lufthansa boss Carsten Spohr. Former BayernLB boss Gerd Häusler and economist Ann-Kristin Achleitner will be leaving the committee. She is one of the well-known faces in the financial scene through positions on the supervisory boards of several companies and as the wife of the former Deutsche Bank chief controller Paul Achleitner.