AXA says CEO De Castries to step down

French insurance giant AXA SA announced Monday that its Chairman and Chief Executive Henri de Castries will step down on Sept. 1, after close to 17 years at the helm of the company.

Mr. de Castries will be replaced as CEO by the company’s top official in Germany, Thomas Buberl, who became deputy CEO on Monday, the company said.

Denis Duverne, who was until now deputy CEO, will become non-execitive chairman on Sept. 1, the company said.

Source: MarketWatch