The CEO of French insurance conglomerate Covea has resigned from the board of fellow insurer SCOR following a failed takeover attempt led by his company . SCOR had rejected an acquisition offer from Covea in 2010 . The offer is said to have been worth € 8.2bn ( $ US ) . Former CEO Thierry Derez had previously temporarily withdrawn from his position on SCOR 's board , citing a conflict of interest . PARIS (Reuters) - Thierry Derez, chief executive of Covea, has resigned from the board of rival Scor (SCOR.PA), which rejected a takeover bid from the French cooperative insurer, the companies said on Tuesday. Covea is SCOR 's largest shareholder , owning roughly an 80 % stake of the company .
The CEO of French insurance conglomerate Covea has resigned from the board of fellow insurer SCOR following a failed takeover attempt led by his company . SCOR had rejected an acquisition offer from Covea in 2010 . The offer is said to have been worth € 8.2bn ( $ US ) . Former CEO Thierry Derez had previously temporarily withdrawn from his position on SCOR 's board , citing a conflict of interest . Covea is SCOR 's largest shareholder , owning roughly an 80 % stake of the company .