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(From Borsen-Zeitung)
Heinrich Focke, chairman of ailing German insurance group Gerling, has resigned as of 1 March 2003 after only one year in office. The group refused to comment on the reasons for Mr Focke's resignation yesterday, but market insiders claim that he lacked management abilities and failed to restructure Gerling.
Under Mr Focke's reign, the planned sale of Gerling Globale Ruck, the group's loss-making reinsurance ...