Michael Diekmann

AAA

DEFINITION of 'Michael Diekmann'

The chairman and CEO of Munich-based Allianz, an insurance, asset-management and banking company. Diekmann joined Allianz in 1988, where he advanced through management positions, including heading several of the company's overseas divisions. He became chairman and CEO in 2003 when Henning Schulte-Noelle resigned, after the company experienced significant losses from 9/11, major flooding in Europe and asbestos claims in the United States. Within a year, Diekmann turned the company around, increasing its profits and share price by cutting non-essential businesses and raising billions in capital.

INVESTOPEDIA EXPLAINS 'Michael Diekmann'

Born in 1954 in Germany, Diekmann graduated from Göttingen University, where he studied law and philosophy. He began his career as CEO of Diekmann/Thieme in 1983, a publishing company he founded. Diekmann is regarded as one of the finest CEOs in Europe.

RELATED TERMS
  1. Chairman

    An executive elected by a company's board of directors that is ...
  2. Corporate Headquarters

    A place where a company's executive offices and executives' direct ...
  3. Corporation

    A legal entity that is separate and distinct from its owners. ...
  4. Fortune 500

    An annual list of the 500 largest companies in the United States ...
  5. Inside Director

    A board member who is an employee, officer or stakeholder in ...
  6. Corporate Governance

    The system of rules, practices and processes by which a company ...
RELATED FAQS
  1. How are Rupert Murdoch's holdings distributed?

    Rupert Murdoch owns a controlling share of News Corporation and over 750 different businesses. Some of the major brands he ... Read Full Answer >>
  2. How did Bernard Baruch attain his wealth?

    Bernard Baruch obtained his fortune by investing in profitable stocks on Wall Street. Baruch is known as a legendary stock ... Read Full Answer >>
  3. Why was Bernard Baruch known as the "Park Bench Statesman?"

    As someone who preferred to conduct his meetings in informal settings and was led by persuasion rather than pressure, Bernard ... Read Full Answer >>
  4. How did Nathan Rothschild become a stock exchange speculator?

    Market maker Nathan Rothschild learned much of his financial savvy from his father, who dealt in coins and paper money. He ... Read Full Answer >>
  5. What advice does Howard Schultz offer would-be business moguls?

    Starbucks CEO, billionaire and former sports tycoon Howard Schultz has several pieces of advice for would-be moguls and, ... Read Full Answer >>
  6. Why did Howard Schultz leave Starbucks, only to return eight years later?

    Howard Schultz left Starbucks in 2000 due to exhaustion from growing Starbucks from a regional coffee chain to a global company ... Read Full Answer >>
Related Articles
  1. Home & Auto

    A Look At Single-Premium Life Insurance

    Want to provide for your dependents and finance your own long-term care? Learn more here.
  2. Options & Futures

    Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.
  3. Retirement

    Variable Vs. Variable Universal Life Insurance

    Do you know why you might need one policy versus the other? Read on to find out.
  4. Professionals

    Management Strategies From A Top CEO

    Find out what this winning manager did to grow one of the biggest companies in the world.
  5. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  6. Active Trading

    The Best CEOs Listen To The Street

    Studies show that transparency and listening to the market are a winning combination for CEOs and the companies they run.
  7. Entrepreneurship

    The CEO Dream Team - Walton, Schwab, Marcus And Blank

    The successes of these three CEOs can be linked back to one common factor: customer service.
  8. Entrepreneurship

    8 Fascinating Traits Billionaires Have In Common

    A top-notch education isn't enough to strike it rich. Nothing compares to learning the habits of the world's famous entrepreneurs and industry leaders.
  9. Investing

    7 Investing Mistakes Warren Buffett Regrets

    Even the “Oracle of Omaha” has made a few money mistakes investing, from losing billions by passing on stock options to companies destined to fail.
  10. Professionals

    Top Places to Work for Financial Advisors

    Looking for a job in the financial services sector? Here's a list of the top companies for financial advisors.

You May Also Like

Hot Definitions
  1. Stop-Loss Order

    An order placed with a broker to sell a security when it reaches a certain price. A stop-loss order is designed to limit ...
  2. Covered Call

    An options strategy whereby an investor holds a long position in an asset and writes (sells) call options on that same asset ...
  3. Butterfly Spread

    A neutral option strategy combining bull and bear spreads. Butterfly spreads use four option contracts with the same expiration ...
  4. Unlevered Beta

    A type of metric that compares the risk of an unlevered company to the risk of the market. The unlevered beta is the beta ...
  5. Moving Average - MA

    A widely used indicator in technical analysis that helps smooth out price action by filtering out the “noise” from random ...
  6. Yield Curve

    A line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity ...
Trading Center