Swiss Re shareholders re-elected Sergio Ermotti as chair, the corporate stated on Wednesday, regardless of a advice by proxy adviser Institutional Shareholder Companies (ISS) to vote in opposition to him over an absence of gender variety.
Ermotti received 79% of the vote within the election on the reinsurer’s annual normal assembly, lower than the 96% he received eventually yr’s assembly.
ISS beneficial shareholders oppose the reappointment of Ermotti as a “sign of concern” over the dearth of gender variety on the reinsurer’s board.
Ermotti instructed shareholders in a webcast that “talents and expertise” are additionally necessary along with variety and that ISS was making an attempt to make headlines with its stance.
(Reporting by Tom Sims and Paul Arnold; modifying by Riham Alkousaa and Maria Sheahan)
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