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citigroup shifts strategy to reduce reliance on external it contractors
Citigroup plans to reduce its reliance on external IT contractors from 50% to 20%, focusing on building in-house capabilities. This strategic shift raises concerns for Indian IT firms like TCS, Wipro, and LTIMindtree, which have significant business ties with Citi. Experts suggest that while this may impact larger IT service providers, it could ultimately benefit India's core banking operations and expertise in the long run.
Baloise is restructuring its Board of Directors amid pressure from activist investor Cevian, with two members departing and three new members joining, including Belgian Vincent Vandendael, who brings extensive international experience in insurance and reinsurance. The changes aim to enhance the board's expertise in insurance technology and underwriting.
Baloise Board Expansion Includes Former Credit Suisse Executive and New Shareholder Representative
Baloise will expand its Board of Directors next year, increasing the number from nine to ten members. Christoph Gloor and Hans-Jörg Schmidt-Trenz will not seek re-election, with André Helfenstein and Vincent Vandendael proposed as replacements. Cevian, the largest shareholder, will be represented by Robert Schuchna, as the company aims to enhance its expertise in insurance and finance through a new "refocusing" strategy.
Baloise Board of Directors to Welcome New Members and Major Shareholder Representative
Baloise will expand its Board of Directors from nine to ten members, with André Helfenstein and Vincent Vandendael replacing Christoph Gloor and Hans-Jörg Schmidt-Trenz, who are not seeking re-election. Robert Schuchna will represent major shareholder Cevian, which holds nearly 10% of the company. This restructuring aims to enhance the company's insurance and financial expertise as part of a refocusing strategy to develop new services and strengthen its core business in European markets.
Baloise Board of Directors to Expand with New Appointments and Strategy
Baloise will expand its Board of Directors next year, increasing the number of members from nine to ten. Christoph Gloor and Hans-Jörg Schmidt-Trenz will not seek re-election at the General Assembly on April 25, 2025, with André Helfenstein and Vincent Vandendael proposed as their replacements. Additionally, Robert Schuchna from major shareholder Cevian will join the board, reflecting the company's strategy to enhance its expertise in insurance and finance.
Baloise Board of Directors Expands with New Members and Major Shareholder Representative
Baloise will expand its Board of Directors from nine to ten members, with André Helfenstein and Vincent Vandendael replacing Christoph Gloor and Hans-Jörg Schmidt-Trenz, who are not seeking re-election. Robert Schuchna will represent major shareholder Cevian, which holds nearly 10% of the company. This restructuring aims to enhance the company's insurance and financial expertise as part of a refocusing strategy to develop new services and strengthen its core business in European markets.
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