Supervisory Board of ARAG SE elects Dr. Dr. h. c. Paul-Otto Faßbender as Chairman
The Supervisory Board of ARAG SE has elected Dr. Dr. h. c. Paul-Otto Faßbender (74) as Chairman with immediate effect. Thus the majority shareholder of the Düsseldorf-based family enterprise supersedes Gerd Peskes (75) who has chaired the supervisory board since 2004.
With the scheduled expiration of his mandate as Chairman of the Board of ARAG SE, Dr. Paul-Otto Faßbender was elected to the Supervisory Board of the enterprise by the General Meeting. Previously, he was Chairman of the Board of the operational holding company of the ARAG Group. In its meeting on 7 July 2020, the Supervisory Board of ARAG SE elected the entrepreneur as its new Chairman. Gerd Peskes was elected further Deputy Chairman in addition to Margit Schuler, representative of the employees’ side. Dr. Paul-Otto Faßbender thanked Gerd Peskes for his long-standing leadership work on the Supervisory Board: “Gerd Peskes played a significant role in shaping the successful alignment of ARAG SE and laid the important foundation that made the dynamic development of the company possible in the first place. For this I thank him very much.”
In addition to the chairmanship of the Supervisory Board, Dr. Paul-Otto Faßbender remains Chairman of the Board of ARAG Holding SE, the parent company of the Düsseldorf-based insurance group.
Dr. Dr. h. c. Paul-Otto Faßbender to leave the Board of ARAG SE
Dr. Dr. h. c. Paul-Otto Faßbender (74), Chairman of the Board of ARAG SE, is resigning from the Board as planned effective 3 July 2020. The Supervisory Board had already resolved in 2019 that he would not be succeeded as Chairman of the Board of ARAG SE (see the press release of 29 May 2019). Beginning on 4 July 2020, Dr. Renko Dirksen (43) will moderate the work of the Management Board team in his position as Speaker of the Board of the family-owned enterprise.
Dr. Paul-Otto Faßbender is ARAG’s majority shareholder. Following his resignation from the Board of the operational holding company of the ARAG Group, management of the largest family-owned enterprise in Germany will be entrusted to people outside the family circle for the first time in 20 years. “This is an important step in the right direction, as it documents the future viability of the ARAG Group,” notes Dr. Paul-Otto Faßbender.
In the future, the operational management of our Group will lie entirely in the hands of the experienced management team with Dr. Dirksen as Speaker of the Board. “The Supervisory Board and our shareholders are firmly convinced that by choosing this path, we have laid the foundation that will enable us to develop the strengths of the entire Management Board team to the greatest possible extent. I have no doubt that we will succeed,” says Dr. Paul-Otto Faßbender. The shareholders, Board members and employees of ARAG SE remain united under the new leadership by the goal of ensuring ARAG’s independence as a family-owned enterprise, “and that will not change in the years to come,” adds the majority shareholder.
He intends to continue serving the Group actively. After resigning as Chairman of the Board of ARAG SE, Dr. Paul-Otto Faßbender will remain Chairman of the Board of ARAG Holding SE, the parent company of our Group. He also hopes to assume the position of Chairman of the Supervisory Board of ARAG SE.