EULER HERMES: Euler Hermes shareholders' meeting appoints Ümit Boyner to the
Euler Hermes shareholders' meeting appoints Ümit Boyner to the Supervisory
PARIS - 23 OCTOBER 2013 - Euler Hermes announced the appointment of Mrs. Ümit
Boyner to its Supervisory Board following today's shareholders' meeting in
Ümit Boyner is an executive board member responsible for finance and
investments at Boyner Holding A.S., Turkey's largest non-food retailer.
Her three-year appointment to the Euler Hermes Board is effective until the
2016 annual shareholders' meeting.
Commenting on the appointment, Clem Booth, chairman of the Euler Hermes
Supervisory Board, said: "As we look to the future, we are very pleased to
welcome Ümit Boyner as a member. Her understanding of the dynamic and
strategically important Turkish, Middle East and Asian growth markets adds a
valuable dimension in our role as counsel to the Euler Hermes leadership."
"Joining the Euler Hermes Supervisory Board is a great honor," said Ümit
Boyner. "I look forward to the opportunity to strengthen the bridges between
Europe and Asia, and within Turkey as it builds on its deep history as a
regional and global trading hub. In addition, Turkey is increasingly adopting
best practices and institutions in the financial sector, where Euler Hermes is
a recognized global leader."
The Euler Hermes Supervisory Board has qualified Ümit Boyner as an independent
member according to criteria defined by the AFEP/MEDEF Code of Corporate
Governance to which the Group adheres. She is the third woman appointed to the
Supervisory Board joining Brigitte Bovermann, vice-chairwoman, and head of the
Global Insurance Lines & Anglo Markets division of Allianz SE and Elizabeth
Corley, CEO of Allianz Global Investors.
Ümit Boyner biography
Ümit Boyner, aged 50, holds a degree in Economics and Political Science from
the University of Rochester (USA) and has also completed the Financial
Management Program of Columbia University Graduate School of Business (USA).
She began her career in credit analysis in banking, before moving to financial
management. In 1994, she joined Boyner Holding as vice-president in charge of
finance and has served as Executive Board Member since 2002. She chaired the
Board of Directors of the TÜSIAD (Turkish Business and Industry Association)
from 2010 to 2013, having led its EU Affairs Committee since 2005. Earlier
this year, Ümit Boyner was appointed as International Advisory Board member of
Euler Hermes Group Media Relations Ogilvy Public Relations Worldwide
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Euler Hermes is the worldwide leader in credit insurance and one of the
leaders in the areas of bonding, guarantees and collections. With 6,000+
employees in over 50 countries, Euler Hermes offers a complete range of
services for the management of B-to-B trade receivables and posted a
consolidated turnover of €2.4 billion in 2012.
Euler Hermes has developed a credit intelligence network that enables it to
analyse the financial stability of 40+ million businesses across the globe.
The Group insured worldwide business transactions totalling €770 billion
exposure end of December 2012.
Euler Hermes, a company of Allianz, is listed on Euronext Paris. The Group is
rated AA- by Standard & Poor's.
For more information visit www.eulerhermes.com or follow us on
Cautionary note regarding forward-looking statements: The statements contained
herein may include statements of future expectations and other forward-looking
statements that are based on management's current views and assumptions and
involve known and unknown risks and uncertainties that could cause actual
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financial markets, including emerging markets, and including market
volatility, liquidity and credit events (iii) the frequency and severity of
insured loss events, including from natural catastrophes and including the
development of loss expenses, (iv) persistency levels, (v) the extent of
credit defaults, (vi) interest rate levels, (vii) currency exchange rates
including the Euro/U.S. Dollar exchange rate, (viii) changing levels of
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convergence and the European Monetary Union, (x) changes in the policies of
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national and/or global basis. Many of these factors may be more likely to
occur, or more pronounced, as a result of terrorist activities and their
The company assumes no obligation to update any forward-looking statement.
EH appoints Ümit Boyner to the Supervisory Board
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Source: EULER HERMES via Thomson Reuters ONE
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