OREANDA-NEWS. February 10, 2014. IC Allianz OJSC Board of Directors announced that by mutual consent a decision was made to terminate powers of CEO of IC Allianz Hakan Danielsson.

Nikolaus Fry was appointed Acting Director General of IC Allianz OJSC, the appointment is valid from March 1, 2014. The decision was also made to appoint Oleg Pyatakov to the position of Board of Directors Chairman instead of Manuel Bauer from March 1, 2014.

Manuel Bauer, Allianz SE Board Member, said: "I am glad Oleg Pyatakov accepted the proposal to take charge of IC Allianz OJSC Board of Directors and hope for effective cooperation".

Oleg Pyatakov graduated from Russian Academy of Economics named after Plekhanov in 1993 with a degree in economy. He was employed in banking and insurance industries. He was employed as CEO of IC Progress-Garant OJSC from 2002 to 2011. In the amalgamated IC Allianz OJSC he entered Board of Directors while holding the office of Allianz CEEMA Senior Vice-President in charge of the CIS market development.

Nikolaus Frei was born on November 20, 1969. He graduated from Federal Institute of Technology in Lausanne (Ecole polytechnique federale de Lausanne) (Switzerland). In 1997, he received MBA at INSEAD Business School in France.

Nikolaus Frei is presently a co-manager of Allianz OPEX Group in Munich, Allianz Managed Operations and Services SE, which is responsible for management consulting and increasing operating efficiency. He has been employed in insurance industry for more than 18 years already, including executive positions in Europe and The Middle East.

Hakan Danielsson came to Allianz in 2011 and played an important part in Allianz companies’ amalgamation in Russia.

Bruce Bowers, CEO of Allianz CEEMA (Central and East Europe, The Middle East and the Africa Region), said: "We are grateful to Hakan for the job he’s done, and we wish him success in his future initiatives. We also congratulate Nikolaus on entrance upon his duties of Acting Director General and wish him good luck in the new role".

Staff changes are subject to approval by regulating authorities.