Jim Schiro, former Zurich CEO and Goldman director, dies

NEW YORK Wed Aug 20, 2014 12:39pm EDT

NEW YORK Aug 20 (Reuters) - James Schiro, a former chief executive in the accounting and insurance industries and until recently the lead director of Goldman Sachs Group Inc, died of cancer last week, the bank said.

Schiro, 68, retired from Goldman's board in July to undergo treatment for multiple myeloma, which was the cause of his death on Aug. 13.

Schiro was CEO of PricewaterhouseCoopers LLP from 1998 to 2001, and CEO of Zurich Insurance Group AG from 2002 to 2009.

Shortly after retiring from Zurich Insurance, Schiro joined Goldman's board. He was named lead director in 2012 as the bank faced pressure from some shareholders to split the duties of chairman and CEO. He also served on the board of PepsiCo Inc .

"Jim was an outstanding Board member and an exceptional individual who made an invaluable contribution to our firm and to all those who worked with him," Goldman Chairman and CEO Lloyd Blankfein and Chief Operating Officer Gary Cohn said in a statement. "We will remember him for his unfailing commitment to Goldman Sachs and to our shareholders and for the example he set as a leader and mentor."

Schiro was born in Brooklyn, New York, on Jan. 2, 1946, and lived in Princeton, New Jersey. He is survived by his wife Tomasina, their children, Justine and James Jr., and a granddaughter, Elisabeth. (Editing by Jeffrey Benkoe)

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