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Michael Diekmann
Business person From Wikipedia, the free encyclopedia
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Michael Diekmann (born December 23, 1954) is a German manager who was the CEO of Allianz in from 2003 to 2015.[1]
 | You can help expand this article with text translated from the corresponding article in German. (December 2021) Click [show] for important translation instructions.
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Early life and education
Diekmann knew early that the family construction business would go to his twin brother, who was more interested in engineering.[2] Instead, he earned his degree from Goettingen University, where he studied law and philosophy.[3]
Career
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Diekmann began his career with Allianz in 1988 after becoming frustrated with his own business, a publishing house that focused on travel guides.[4] 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.[5] In 1996, he moved to Singapore to run Allianz's Asia-Pacific business front.[6]
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 Europaea (SE) 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]
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Other activities
Corporate boards
- Google Cloud Platform, Member of the European Advisory Board (since 2022)[14]
- Temasek Holdings, Member of the European Advisory Panel (since 2016)[15]
- Linklaters, Member of the International Advisory Group (since 2016)[16]
- Fresenius, Deputy Chairman of the Supervisory Board (since 2015)[17]
- Siemens, Member of the Supervisory Board (since 2008)[18]
- BASF, Member of the Supervisory Board (2003-2019)[19]
- Linde, Deputy Chairman of the Supervisory Board (2003-2017)[20]
- Lufthansa, Member of the Supervisory Board (2003-2008)[21][22]
Non-profit organizations
- Allianz Umweltstiftung, Deputy Chairman of the Board of Trustees (-2015)[23]
- European School of Management and Technology (ESMT), Chairman of the Board of Trustees (2007-2015)[24]
- Siemens Stiftung, Member of the Board of Trustees[25]
- 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)[26]
- Pan-European Insurance Forum (PEIF), Member (2003-2015)
- Geneva Association, Vice Chairman (2003-2015)
References
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