He also holds a significant non-executive role as Deputy Chair of the Supervisory Board at Fresenius SE & Co. KGaA (since 2014), is currently on the board of FC Bayern München eV, and previously served on the Supervisory Board of Siemens AG (2008-2023), BASF SE (2003-2019) and Linde AG (2003-2017), further demonstrating his leadership across global financial services, healthcare, and industrial sectors.

Michael spent 27 years at Allianz before becoming CEO (2003-2015). He led a decisive turnaround that restored profitability and positioned the company as a global insurance and asset management leader. Taking the helm in the wake of the costly Dresdner Bank acquisition, he implemented sweeping cost reductions, refocused the business on core operations, and returned the group to profitability within a year. He also led Allianz’s legal transformation into a European company (Societas Europaea), consolidated its European footprint, and oversaw strong international expansion.

He brings deep cross-sector expertise in:

• Insurance & asset management leadership – transforming Allianz into a global financial powerhouse with integrated operations and significant assets under management

• Strategic governance & committee stewardship – chairing multiple top-tier supervisory committees, reinforcing board transparency, ESG oversight and digital transformation

• Global risk & crisis navigation – turning around regional insurance carriers and guiding enterprise risk management through eras of geopolitical and regulatory change

• Board-level capital & institutional oversight – Serving on supervisory boards of large DAX-companies, driving governance excellence in different sectors

Michael studied law and philosophy at the University of Göttingen. Known for his analytical intellect, operational discipline, and principled leadership, Michael is respected as a builder of global institutions grounded in integrity and strategic renewal. His career offers inspiration and practical guidance for leaders navigating scale, innovation, and governance in interconnected industries.