Vienna Insurance CEO Peter Hagen to quit over strategic differences

Posted On: Dec. 3, 2015 12:00 AM CST

Austria's Vienna Insurance Group A.G. has said that its chief executive, Peter Hagen, will step down on Dec. 31 "due to differences in opinion regarding the future strategic orientation and steering of the group," reports Reuters.

VIG said that Elisabeth Stadler, chief executive of the insurer's Donau Versicherung A.G. Vienna Insurance Group unit, will replace Mr. Hagen. Mr. Hagen took over as VIG's chief executive in 2012 and his contract was due to run until June 2018.