Josef Ackermann's resigned from Zurich Insurance after he was mentioned in the suicide note of the company's CFO. The bereaved family of the former Zurich CFO accused Ackermann to be partly responsible for his death. In a statement issued last September 1, Ackermann said that he does not want to make any further comments out of respect for the tragic event. Last August 29, Ackermann said that the suicide had left him deeply shocked.
According to Ackermann's spokesperson Joerg Neef, there had been no legal action taken against the former chairman regarding the incident. The Zug police also reported that there were no indications of third party involvement in the CFO's death.
Zurich CEO Martin Senn told NZZ am Sonntag last September 1 that the company had been seeking to repair the damage that the unfortunate event had caused to its reputation. He also added that he had a good professional relationship with Ackermann.
However, the aftermath of the suicide incident might threaten Ackermann's legacy. Fund Manager Lutz Roehmeyer of Landesbank Berlin Investment said, "No matter which way you cut it, the departure amounts to a personal failure. "He'll be seen either as a bad guy who forced a person to suicide, or someone who couldn't push through what he wanted. This will limit his job opportunities to companies that wouldn't normally have come into question."
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