The board of Converium is set to undergo a major restructure. Converium said chairman Peter Colombo will step down at the coming AGM as previously indicated.
The company also announced that vice chairman Georg Mehl as well as board members George Parker and Anton Schnyder will not be standing for re-election when their term expires at the 2006 AGM.
At the AGM, to be held on 11 April 2006, the board will propose to Converium's shareholders the election of Lennart Blecher, Detlev Bremkamp and Harald Wiedmann as new members of the board.
Chairman Peter Colombo, said: "The changes announced today are in line with my statement made at the 2005 Annual General Meeting that the rejuvenation of the Board is an important goal.
Following a thorough and successful search the board of directors has now delivered on this promise. It is the next logical step, now that the Board has successfully resolved the CEO succession by appointing Inga Beale as of 1 February 2006."
