In life, Pierre Wauthier struck colleagues as genial and self-possessed — the sort of cool-under-pressure qualities needed as chief financial officer at one of the world’s biggest insurers.
In death, the former CFO’s allegations of discord at the top of Zurich Insurance Group, and of a toxic working relationship with chairman Josef Ackermann, have severely rattled the reputation of one of Europe’s leading business figures and a global brand with 60,000 employees.
Until he was found dead on August 26 at his lakeside home in Walchwil, Switzerland, in what police have called an apparent suicide, Wauthier’s well-respected expertise, likable demeanour and enjoyment of hard work helped him navigate the intense daily pressures in the cross-hairs of top management.
Company spokesman Bjorn Emde described Wauthier as “a very nice person and much-liked. Colleagues liked him a lot”
Despite his calm exterior and good sense of humor, colleagues say Wauthier was becoming increasingly frustrated working with his new and demanding boss, Ackermann, a former Deutsche Bank chief who returned to his native Switzerland in March last year to take on the role at Zurich.
Explaining why he stepped down so quickly after the suicide, he said Wauthier’s family had threatened to go to the media with details of the note. “There are many who asked me, encouraged me to carry on,” Ackermann said. In light of the incident and the threats, however, he came to the conclusion that it would not have been possible to carry out his duties as chairman with the “required resolve”.