Munich Re CEO will not renew contract

Long-standing Munich Re CEO Nikolaus von Bomhard will step down
when his contract expires at the end of the year, according to
reports.
Von Bomhard, who has headed the carrier since 2004, will turn 60
this year, the maximum age limit for senior executives in Germany,
according to German finance publication Manager
Magazin.
After the age of 60, senior executives at German firms may
request to renew their contract one year at a time. However,
sources told the German publication...