Peter C. Durhager has been elected chairman and L. Anthony Joaquin deputy chairman of Ascendant Group Limited, the company announced yesterday.

The election by the board of directors follows the retirement of S. Reginald Minors as chairman, and from the board, at the annual general meeting of shareholders Friday June 6.

With the company now under new leadership, Ascendant Group Limited president & chief executive officer Walter M. Higgins said, “Both Mr. Durhager and Mr. Joaquin provide invaluable leadership and insight, as the Ascendant Group navigates the serious challenges associated with Bermuda’s economic recession, and the consequent impact on the company’s energy and infrastructure businesses. “We are fortunate to have these two extraordinary business professionals leading the board of directors as we position our businesses to support Bermuda’s growth and progress.”

Mr. Durhager joined Ascendant Group’s board in 2003 and has served as deputy chairman since 2012. He is executive vice president & chief administrative officer of RenaissanceRe Holdings Ltd., with responsibility for the global shared services division, including human resources, organisational development, operations, marketing, communications and information technology.

He is a director of KeyTech Ltd., chairman of the Bermuda Community Foundation and serves on the advisory board of the Centre on Philanthropy. Mr. Durhager is co-chair of Bermuda First and a member of the Young Presidents Organization.

Mr. Joaquin, J.P., F.C.A., joined the Ascendant Group’s board of directors in 2005. He has been president of HSBC Fund of Funds Alternative Limited since November 2012.

He retired from Ernst & Young Bermuda as managing partner in 2005, having been partner from 1988 to 2001. Mr. Joaquin was Inspector of Companies of the Government of Bermuda from 1986 to 1988. He has served as a director of HSBC Bank Bermuda Limited, the Bermuda Monetary Authority, BF & M Limited, IPC Holdings Ltd. and several other companies.