Zurich chairman quits after finance chief's death

GENEVA (AP) The chairman of the Zurich Insurance Group has resigned just three days after the death of its chief financial officer, who was found dead at home.

The company said in a statement Thursday that Josef Ackermann has told the board of directors he is resigning immediately. Ackermann is a former chief executive of Deutsche Bank.

He was quoted as saying that he was shocked by former CFO Pierre Wauthier's unexpected death, which the company announced Monday and that the police are investigating.

Ackermann says that he is under the impression that Wauthier's family believes he bears some responsibility for the death. As such he is resigning to "avoid any damage to Zurich's reputation."

Zurich is a major insurance provider that employs about 60,000 people in more than 170 countries.

This story has been automatically published from the Associated Press wire which uses US spellings

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