November 10, 2017 / 11:28 AM / a year ago

UPDATE 1-Talanx announces new CEO from 2018

* Reshuffle to take place after AGM in 2018

* Incoming CEO Leue has overseen international business

* Outgoing CEO to assume chairmanship of board (Adds details on current chairman, details)

FRANKFURT, Nov 10 (Reuters) - The German insurer Talanx announced on Friday a change at its helm, with Torsten Leue to assume the role of chief executive from the company’s long-time chief Herbert Haas next year.

Leue has been responsible for the company’s international business, and before 2010 worked at Allianz.

Haas will stand for election to the supervisory board at next year’s annual general meeting and, if elected, become a candidate for the board’s chair. During his tenure, Haas oversaw Talanx going public.

The reshuffle was prompted by a decision by the current supervisory board chairman, 74-year-old Wolf-Dieter Baumgartl, to not seek reelection after 12 years in that role. (Reporting by Tom Sims and Alexander Huebner; Editing by Maria Sheahan)

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