Press Release

07.07.2020

Supervisory Board of ARAG SE elects Dr. Dr. h. c. Paul-Otto Faßbender as Chairman

The Supervisory Board of ARAG SE has elected Dr. Dr. h. c. Paul-Otto Faßbender (74) as Chairman with immediate effect. Thus the majority shareholder of the Düsseldorf-based family enterprise supersedes Gerd Peskes (75) who has chaired the supervisory board since 2004.

With the scheduled expiration of his mandate as Chairman of the Board of ARAG SE, Dr. Paul-Otto Faßbender was elected to the Supervisory Board of the enterprise by the General Meeting. Previously, he was Chairman of the Board of the operational holding company of the ARAG Group. In its meeting on 7 July 2020, the Supervisory Board of ARAG SE elected the entrepreneur as its new Chairman. Gerd Peskes was elected further Deputy Chairman in addition to Margit Schuler, representative of the employees’ side. Dr. Paul-Otto Faßbender thanked Gerd Peskes for his long-standing leadership work on the Supervisory Board: “Gerd Peskes played a significant role in shaping the successful alignment of ARAG SE and laid the important foundation that made the dynamic development of the company possible in the first place. For this I thank him very much.”

In addition to the chairmanship of the Supervisory Board, Dr. Paul-Otto Faßbender remains Chairman of the Board of ARAG Holding SE, the parent company of the Düsseldorf-based insurance group.