It is reported that Zurich Insurance Group is investigating whether former Chairman Josef Ackermann put undue pressure on Chief Financial Officer Pierre Wauthier after Ackermann's named appeared in the suicide note left by Wauthier.
Wauthier, 53, was found dead in his home Monday, which led to Ackermann's resignation this week.
In resigning, Ackermann said he was leaving to avoid damaging the company's reputation after the family made allegations that he was partly responsible for Wauthier's death. No additional information was released yesterday explaining why the family was making those allegations. Today, reports say Ackermann was named in the note.
During a conference call with investment analysts, company executives went to great lengths to assure investors that the insurer is financially sound and Wauthier's death did not reflect negatively on the company's finances. One report says Ackermann does not seek confrontation, but does get deeply into the details, especially at a company he believed needed to be shaken up.
If Ackermann intended to shake up Zurich, he has succeeded.
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