Nominations for re-election and election by the Annual General Meeting on 21 April 2017

On 1 January 2014 the Ordinance Against Excessive Compensation at Public Corporations entered into effect. It provides that, as of the Annual General Meeting 2014, the shareholders will annually elect the members of the Board of Directors, the Chairman of the Board of Directors, as well as the members of the Compensation Committee, individually and separately, for one-year terms. The Board of Directors proposes that the following Board members be re-elected for a one-year term:

  • Walter B. Kielholz
  • Raymond K.F. Ch’ien
  • Renato Fassbind
  • Mary Francis
  • Rajna Gibson Brandon
  • C. Robert Henrikson
  • Trevor Manuel
  • Philip K. Ryan
  • Sir Paul Tucker
  • Susan L. Wagner

Furthermore, the Board of Directors proposes:

  • Jay Ralph
  • Joerg Reinhardt
  • Jacques de Vaucleroy

to the Annual General Meeting 2017 for first-time election as members of the Board of Directors for a one-year term of office as part of the continued aim to further diversify and renew its composition.

Jay Ralph was a member of the Board of Management of Allianz SE from 2010 to 2016, where he also served on a number of boards of directors of Allianz SE subsidiaries. He was Chief Executive Officer of Allianz Re, from 2007 to 2009, and President and Chief Executive Officer of Allianz Risk Transfer from 1997 to 2006. Before joining Allianz, he was auditor at Arthur Andersen & Company, Investment Officer at Northwestern Mutual Life Insurance Company, President at Centre Re Bermuda Ltd and a member of the Executive Board of Zurich Re. Jay Ralph is a member of the Siemens Pension Advisory Board.

Jay Ralph is an American and Swiss citizen born in 1959. He graduated with an MBA in Finance and Economics from the University of Chicago, USA, and a BBA in Finance and Accounting from the University of Wisconsin, USA. He is a Certified Public Accountant (CPA), a Chartered Financial Analyst (CFA) and Fellow, Life Management Institute (FLMI).

Joerg Reinhardt has been Chairman of the Board of Directors of Novartis since 2013. He was Chairman of the Board of Management and the Executive Committee of Bayer HealthCare from 2010 to 2013 and, prior to that, held various executive positions at Novartis. He was Chief Operating Officer from 2008 to 2010, headed the Vaccines and Diagnostics Division from 2006 to 2008 and held a number of other senior roles, primarily in research and development, in the preceding years. Joerg Reinhardt started his career at Sandoz Pharma Ltd, a predecessor company of Novartis, in 1982.

Joerg Reinhardt was also Chairman of the Board of the Genomics Institute of the Novartis Research Foundation from 2000 to 2010, a member of the supervisory board of MorphoSys AG from 2001 to 2004, and a member of the Board of Directors of Lonza Group AG from 2012 to 2013. Joerg Reinhardt is a German citizen born in 1956. He graduated with a doctorate in pharmaceutical sciences from Saarland University, Germany.

Jacques de Vaucleroy is Vice Chairman of the Board of Directors of Ahold Delhaize and a member of the Boards of Directors of Fidelity International Limited and MyMicroInvest SA. Furthermore, he serves on the Boards of the Simõn I. Patiño Foundation and the TADA non-profit organisation.

Jacques de Vaucleroy was a member of the Management Committee of AXA Group from 2010 to 2016, serving as CEO of North, Central and Eastern Europe and CEO of Global Life & Savings. He also held a number of positions in boards of directors and supervisory boards of AXA companies. Before that, he spent 24 years at ING where he held senior roles in banking, asset management and insurance. He was a member of the Executive Board of ING Group from 2006 to 2009, in charge of insurance and asset management in Europe.

Jacques de Vaucleroy is a Belgian citizen born in 1961. He graduated with a Bachelor in Law from the Facultés Universitaires de Namur and received a Master in Law from the Université Catholique de Louvain and a Master in Business Law from the Vrije Universiteit Brussel.

The Board of Directors proposes that Walter B. Kielholz be re-elected as Chairman of the Board of Directors for a further one-year term. It furthermore proposes that Raymond K.F. Ch’ien, Renato Fassbind and C. Robert Henrikson be re-elected as members of the Compensation Committee, for a one-year term and Joerg Reinhardt be elected as a new member of the Compensation Committee, for a one-year term.