MUNICH (dpa-AFX) - Siemens CEO Roland Busch and former Bundesbank President Jens Weidmann are to join the Supervisory Board of Munich Re. The reinsurer's supervisory body has proposed Busch and Weidmann as the most prominent new members for the upcoming election at the Annual General Meeting on April 25, according to the published agenda. Nikolaus von Bomhard, who headed the Munich-based DAX-listed company as CEO until 2017, is to remain Chairman of the Supervisory Board.

Founded in 1880, Munich Re is one of the most respected names in the German financial sector. Weidmann was President of the Bundesbank until 2021 and has been Chairman of the Supervisory Board of Commerzbank since last year. As head of Siemens, Busch is practically a neighbor - the headquarters of the two companies are just over two kilometers apart.

To date, one current DAX CEO is a member of Munich Re's Supervisory Board: Lufthansa CEO Carsten Spohr. Former BayernLB CEO Gerd Häusler and economist Ann-Kristin Achleitner will be leaving the board. She is a well-known face on the financial scene, having held supervisory board positions at several companies and as the wife of former Deutsche Bank Chief Financial Controller Paul Achleitner./cho/DP/men