SWITZERLAND – Troubled Swiss Life Holding has named Swiss National Bank vice chairman Bruno Gehrig as non-executive chairman, replacing Andres Leuenberger.

“Swiss Life Holding's Board of Directors is proposing that the shareholders elect Bruno Gehrig to the board at the annual general meeting on May 27 2003,” the insurer said in a statement. It has previously announced that Leuenberger is to step down.

The move follows the departure of former chief executive Roland Chlapowski after the Long Term Strategy scandal. Chlapowski was replaced by Rolf Doerig.

Gehrig, 56, will resign from the board of the Swiss central bank on June 30. "I am really looking forward to devoting the greater part of my energies to the ongoing positive development of such an economically significant company,” Gehrig said.

"By uniting the efforts of the board of directors, chief executive Rolf Doerig and all our members of staff, we will succeed in strengthening confidence and attaining Swiss Life's strategic goals on schedule."