Quelle surprise

Axa’s Chairman and CEO Henri de Castries will step down come Sept. 1. While he didn’t reveal his future plans, you can rule out retirement, as the word on the street is that de Castries may become the next chairman of HSBC Holdings. As for Axa, the role will be split in two with Thomas Buberl taking over as chief executive and Denis Duverne becoming chairman of the insurance business.