The Swiss franc is the worst performer in the market today.
One of the reasons is the suicide of Zurich Insurance CFO Pierre Wauthier. I reported on his death Monday and now its been confirmed as suicide. It also appears as though it might have ties to his work. Chairman Josef Ackermann announced his resignation today.
“The unexpected death of Pierre Wauthier has deeply shocked me,” Ackermann said in a statement today. “I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be.”
Shares of the company are down 5.6% this week.
There are no signs of anything underhanded at the company but the market always assumes the worst in situations like this.
