Zurich Chairman Josef Ackermann has resigned following the death of Group CFO Pierre Wauthier.

Mr Wauthier’s body was found at his home last Monday, and Mr Ackermann was reportedly named in a suicide note.

On Thursday Zurich released a statement from Mr Ackermann expressing shock at the death and saying he would resign to avoid damage to the company’s reputation.

“I have reasons to believe the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be,” he said.

Such claims could raise questions over successful board leadership, Mr Ackermann says.