AXA CEO Castries to leave group on Sept 1

[PARIS] AXA Chairman and Chief Executive Henri de Castries said on Monday he will step down on Sept 1 after nearly 17 years as CEO to bring in a new management team to implement its new strategic plan.

AXA Germany head Thomas Buberl, 42, will become deputy CEO from Monday before taking over as CEO in September, the insurer said in a statement. Deputy CEO in charge of finance Denis Duverne, 62, will replace Mr Castries as chairman.

In a letter to staff announcing his departure, Mr Castries said"it is only natural that a new team launches and manages our new strategic plan to be announced in June 2016", adding that he would work with Mr Buberl and Mr Duverne to ensure a smooth transition.

REUTERS