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'''Michael Diekmann''' (born December 23, 1954) was the CEO of [[Allianz]] in between 2003 and 2015. He is regarded as one of the finest CEOs in Europe.<ref name="profile">[http://www.europeanceo.com/profiles/michael-diekmann European CEO]</ref><ref>Dauer, Ulrike. [https://www.wsj.com/articles/allianz-names-new-chief-executive-1412253138 "Allianz CEO Michael Diekmann to Step Down"], ''The Wall Street Journal'', 2 October 2015. Accessed 10 December 2015.</ref>
'''Michael Diekmann''' (born December 23, 1954) was the CEO of [[Allianz]] in between 2003 and 2015. He is regarded as one of the finest CEOs in Europe.<ref name="profile">[http://www.europeanceo.com/profiles/michael-diekmann European CEO]</ref><ref>Dauer, Ulrike. [https://www.wsj.com/articles/allianz-names-new-chief-executive-1412253138 "Allianz CEO Michael Diekmann to Step Down"], ''The Wall Street Journal'', 2 October 2015. Accessed 10 December 2015.</ref>

==Early life and education==
Diekmann knew early that the family construction business would go to his twin brother, who was more interested in engineering.<ref>James Wilson (September 7, 2008), [https://www.ft.com/content/4c6019d8-7d00-11dd-8d59-000077b07658 Chief with a taste for adventure] ''[[Financial Times]]''.</ref> Instead, he earned his degree from Goettingen University, where he studied law and philosophy.<ref>[http://topics.wsj.com/person/D/michael-diekmann/1020 Education]</ref>


==Career==
==Career==
Diekmann earned his degree from Goettingen University, where he studied law and philosophy.<ref>[http://topics.wsj.com/person/D/michael-diekmann/1020 Education]</ref> He began his career with Allianz in 1988 after becoming frustrated with his own business, a publishing house that focused on travel guides.<ref>Wilson, James. [http://www.ft.com/cms/s/0/4c6019d8-7d00-11dd-8d59-000077b07658.html#axzz3twV4evmL "Chief with a taste for adventure"], ''Financial Times'', 7 September 2008. Accessed 10 December 2015.</ref> In 1996, he moved to [[Singapore]] to run Allianz's Asia-Pacific business front.<ref name="profile" />
Diekmann began his career with [[Allianz]] in 1988 after becoming frustrated with his own business, a publishing house that focused on travel guides.<ref>Wilson, James. [http://www.ft.com/cms/s/0/4c6019d8-7d00-11dd-8d59-000077b07658.html#axzz3twV4evmL "Chief with a taste for adventure"], ''Financial Times'', 7 September 2008. Accessed 10 December 2015.</ref> During his career, he later worked in [[Australia]] and the [[United States]], where he successfully revamped the [[Fireman's Fund Insurance Company]], the Allianz subsidiary there.<ref>Carter Doughherty (July 20, 2006), [http://www.nytimes.com/2006/07/20/business/worldbusiness/20iht-allianz.2254449.html A European Allianz becomes less German] ''[[International Herald Tribune]]''.</ref> In 1996, he moved to [[Singapore]] to run Allianz's Asia-Pacific business front.<ref name="profile" />

As CEO, Diekmann steered Allianz through a difficult period at the start of the century, moving it from a low point in profitability to a bumper year in 2013 with an operating profit of €10.1 billion.<ref>Alice Ross (October 2, 2014), [https://www.ft.com/content/a7175db0-4a30-11e4-8de3-00144feab7de Michael Diekmann to step down as Allianz chief] ''[[Financial Times]]''.</ref> Under his leadership, the insurer also converted its legal form, then [[Aktiengesellschaft]], or German joint-stock company, to [[Societas Europae]] in 2006.<ref>Carter Doughherty (July 20, 2006), [http://www.nytimes.com/2006/07/20/business/worldbusiness/20iht-allianz.2254449.html A European Allianz becomes less German] ''[[International Herald Tribune]]''.</ref> By 2014, Allianz had grown to become the world’s second-biggest investor after [[BlackRock]].<ref>Jonathan Gould (August 1, 2014), [https://www.reuters.com/article/allianz-ceo/allianz-to-stick-with-old-guard-as-ceo-contract-ends-idUSL6N0Q64WV20140801 Allianz to stick with old guard as CEO contract ends] ''[[Reuters]]''.</ref> That same year, Diekmann weathered a hailstorm of criticism about the sagging performance at the firm’s asset manager, [[Pimco]].<ref>Jonathan Gould (August 1, 2014), [https://www.reuters.com/article/allianz-ceo/allianz-to-stick-with-old-guard-as-ceo-contract-ends-idUSL6N0Q64WV20140801 Allianz to stick with old guard as CEO contract ends] ''[[Reuters]]''.</ref>


Diekmann's total compensation from 2010 was around one hundred and five million Euros.<ref>[https://people.forbes.com/profile/michael-diekmann/3285 Forbes]</ref>
Diekmann's total compensation from 2010 was around one hundred and five million Euros.<ref>[https://people.forbes.com/profile/michael-diekmann/3285 Forbes]</ref>

In late 2014, it was announced that Diekmann, would step down the following year after he turned 60, which is traditionally the age limit for board members at Allianz.<ref>Alice Ross (October 2, 2014), [https://www.ft.com/content/a7175db0-4a30-11e4-8de3-00144feab7de Michael Diekmann to step down as Allianz chief] ''[[Financial Times]]''.</ref> At the time, investors widely expected him to stay in his role for a further one to two years.<ref>Jonathan Gould (October 2, 2014), [https://www.reuters.com/article/us-usa-stocks/wall-st-eases-as-oil-prices-general-electric-fall-idUSKBN1F51GC Allianz CEO Diekmann to step aside for Baete in May] ''[[Reuters]]''.</ref>


==Other activities==
==Other activities==
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* [[Linklaters]], Member of the International Advisory Group (since 2016)<ref>Lutz Reiche (April 4, 2016), [http://www.manager-magazin.de/koepfe/michael-diekmann-ex-allianz-chef-faengt-bei-linklaters-an-a-1085321.html Ex-Allianz-Chef Diekmann heuert bei Linklaters an] ''[[Manager Magazin]]''.</ref>
* [[Linklaters]], Member of the International Advisory Group (since 2016)<ref>Lutz Reiche (April 4, 2016), [http://www.manager-magazin.de/koepfe/michael-diekmann-ex-allianz-chef-faengt-bei-linklaters-an-a-1085321.html Ex-Allianz-Chef Diekmann heuert bei Linklaters an] ''[[Manager Magazin]]''.</ref>
* [[Fresenius (company)|Fresenius]], Deputy Chairman of the Supervisory Board (since 2015)<ref>[ https://www.fresenius.com/supervisory-board Supervisory Board] [[Fresenius (company)|Fresenius]].</ref>
* [[Fresenius (company)|Fresenius]], Deputy Chairman of the Supervisory Board (since 2015)<ref>[ https://www.fresenius.com/supervisory-board Supervisory Board] [[Fresenius (company)|Fresenius]].</ref>
* [[Siemens]], Member of the Supervisory Board (since 2008)
* [[The Linde Group|Linde]], Deputy Chairman of the Supervisory Board (2003-2017)<ref>Axel Höpner (March 9, 2017), [http://www.handelsblatt.com/unternehmen/industrie/airbus-chef-enders-rueckt-in-den-linde-aufsichtsrat/19490068.html Airbus-Chef: Enders rückt in den Linde-Aufsichtsrat] ''[[Handelsblatt]]''.</ref>
* [[Lufthansa]], Member of the Supervisory Board (-2008)
===Non-profit organizations===
===Non-profit organizations===
* Allianz Umweltstiftung, Deputy Chairman of the Board of Trustees (-2015)<ref>[https://umweltstiftung.allianz.de/aktuelles/news/archiv-2015/wechsel-kuratorium/ Wechsel im Kuratorium der Allianz Umweltstiftung] Allianz Umweltstiftung, press release of May 29, 2015.</ref>
* Allianz Umweltstiftung, Deputy Chairman of the Board of Trustees (-2015)<ref>[https://umweltstiftung.allianz.de/aktuelles/news/archiv-2015/wechsel-kuratorium/ Wechsel im Kuratorium der Allianz Umweltstiftung] Allianz Umweltstiftung, press release of May 29, 2015.</ref>
* [[European School of Management and Technology]] (ESMT), Chairman of the Board of Trustees (2007-2015)<ref>[https://press.esmt.org/all-press-releases/dr-dieter-zetsche-succeeding-michael-diekmann-chairman-board-trustees-esmt Dr. Dieter Zetsche succeeding Michael Diekmann as Chairman of the Board of Trustees of the ESMT Foundation] [[European School of Management and Technology]] (ESMT), press release of April 28, 2015.</ref>
* [[European School of Management and Technology]] (ESMT), Chairman of the Board of Trustees (2007-2015)<ref>[https://press.esmt.org/all-press-releases/dr-dieter-zetsche-succeeding-michael-diekmann-chairman-board-trustees-esmt Dr. Dieter Zetsche succeeding Michael Diekmann as Chairman of the Board of Trustees of the ESMT Foundation] [[European School of Management and Technology]] (ESMT), press release of April 28, 2015.</ref>
* Siemens Stiftung, Member of the Board of Trustees<ref>[https://www.siemens-stiftung.org/en/foundation/team/board-of-trustees/ Board of Trustees] Siemens Stiftung.</ref>
* International Business Leaders Advisory Council for the Mayor of Shanghai (IBLAC), Member
* [[Monetary Authority of Singapore]], Member of the Advisory Board
* [[Munich Security Conference]], Member of the Advisory Council (2008-2015)<ref>[https://www.securityconference.de/en/about/advisory-council/ Advisory Council] [[Munich Security Conference]].</ref>
* Pan-European Insurance Forum (PEIF), Member (2003-2015)
* [[Geneva Association]], Vice Chairman (2003-2015)


== References ==
== References ==

Revision as of 09:58, 20 January 2018

Michael Diekmann
Born
Michael Diekmann

(1954-12-23) December 23, 1954 (age 70)
Bielefeld, Germany
OccupationCEO of Allianz

Michael Diekmann (born December 23, 1954) was the CEO of Allianz in between 2003 and 2015. He is regarded as one of the finest CEOs in Europe.[1][2]

Early life and education

Diekmann knew early that the family construction business would go to his twin brother, who was more interested in engineering.[3] Instead, he earned his degree from Goettingen University, where he studied law and philosophy.[4]

Career

Diekmann began his career with Allianz in 1988 after becoming frustrated with his own business, a publishing house that focused on travel guides.[5] During his career, he later worked in Australia and the United States, where he successfully revamped the Fireman's Fund Insurance Company, the Allianz subsidiary there.[6] In 1996, he moved to Singapore to run Allianz's Asia-Pacific business front.[1]

As CEO, Diekmann steered Allianz through a difficult period at the start of the century, moving it from a low point in profitability to a bumper year in 2013 with an operating profit of €10.1 billion.[7] Under his leadership, the insurer also converted its legal form, then Aktiengesellschaft, or German joint-stock company, to Societas Europae in 2006.[8] By 2014, Allianz had grown to become the world’s second-biggest investor after BlackRock.[9] That same year, Diekmann weathered a hailstorm of criticism about the sagging performance at the firm’s asset manager, Pimco.[10]

Diekmann's total compensation from 2010 was around one hundred and five million Euros.[11]

In late 2014, it was announced that Diekmann, would step down the following year after he turned 60, which is traditionally the age limit for board members at Allianz.[12] At the time, investors widely expected him to stay in his role for a further one to two years.[13]

Other activities

Corporate boards

  • Temasek Holdings, Member of the European Advisory Panel (since 2016)[14]
  • Linklaters, Member of the International Advisory Group (since 2016)[15]
  • Fresenius, Deputy Chairman of the Supervisory Board (since 2015)[16]
  • Siemens, Member of the Supervisory Board (since 2008)
  • Linde, Deputy Chairman of the Supervisory Board (2003-2017)[17]
  • Lufthansa, Member of the Supervisory Board (-2008)

Non-profit organizations

References

  1. ^ a b European CEO
  2. ^ Dauer, Ulrike. "Allianz CEO Michael Diekmann to Step Down", The Wall Street Journal, 2 October 2015. Accessed 10 December 2015.
  3. ^ James Wilson (September 7, 2008), Chief with a taste for adventure Financial Times.
  4. ^ Education
  5. ^ Wilson, James. "Chief with a taste for adventure", Financial Times, 7 September 2008. Accessed 10 December 2015.
  6. ^ Carter Doughherty (July 20, 2006), A European Allianz becomes less German International Herald Tribune.
  7. ^ Alice Ross (October 2, 2014), Michael Diekmann to step down as Allianz chief Financial Times.
  8. ^ Carter Doughherty (July 20, 2006), A European Allianz becomes less German International Herald Tribune.
  9. ^ Jonathan Gould (August 1, 2014), Allianz to stick with old guard as CEO contract ends Reuters.
  10. ^ Jonathan Gould (August 1, 2014), Allianz to stick with old guard as CEO contract ends Reuters.
  11. ^ Forbes
  12. ^ Alice Ross (October 2, 2014), Michael Diekmann to step down as Allianz chief Financial Times.
  13. ^ Jonathan Gould (October 2, 2014), Allianz CEO Diekmann to step aside for Baete in May Reuters.
  14. ^ Temasek establishes European Advisory Panel Temasek Holdings, press release of 20 January 2016.
  15. ^ Lutz Reiche (April 4, 2016), Ex-Allianz-Chef Diekmann heuert bei Linklaters an Manager Magazin.
  16. ^ [ https://www.fresenius.com/supervisory-board Supervisory Board] Fresenius.
  17. ^ Axel Höpner (March 9, 2017), Airbus-Chef: Enders rückt in den Linde-Aufsichtsrat Handelsblatt.
  18. ^ Wechsel im Kuratorium der Allianz Umweltstiftung Allianz Umweltstiftung, press release of May 29, 2015.
  19. ^ Dr. Dieter Zetsche succeeding Michael Diekmann as Chairman of the Board of Trustees of the ESMT Foundation European School of Management and Technology (ESMT), press release of April 28, 2015.
  20. ^ Board of Trustees Siemens Stiftung.
  21. ^ Advisory Council Munich Security Conference.
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