Ex-Goldman lead independent direct dies

Carnation

James Schiro, who led Zurich Financial Services through the credit crisis and became Goldman Sachs' lead independent director, has died. He was 68.

Bloomberg News reports that he died on August 13th, according to an e-mail sent on Saturday to employees of New York-based Goldman Sachs by Chief Executive Officer Lloyd C. Blankfein and President Gary D. Cohn.

Schiro died of multiple myeloma, a form of cancer, at his home in Princeton, New Jersey.

In 2002, Schiro became CEO of Zurich Financial Services, which had been the worst-performing European insurance stock the previous year. Under his leadership, the company returned to profitability, and Barron’s magazine included him in its Top CEO list in 2008 and 2009. The company, Switzerland’s biggest insurer, changed its name to Zurich Insurance Group in 2012.

Following his retirement from Zurich Financial in 2009, Schiro joined Goldman Sachs’s board and in 2012 was named lead director and chairman of the Corporate Governance, Nominating and Public Responsibilities Committee, according to the bank’s biography. He retired last month to undergo medical treatment for his disease.

Hit the link below to access the complete Bloomberg News article:

Jim Schiro, Former Zurich CEO, Goldman Director, Dies at 68

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