UBS News Alert
UBS AG nominates Wolfgang Mayrhuber for election to its Board of Directors
UBS AG nominates Wolfgang Mayrhuber, chief executive officer of Deutsche Lufthansa AG, for election to its Board of Directors at its annual general meeting on 14 April 2010.
UBS AG has nominated Wolfgang Mayrhuber for election to its Board of Directors. Wolfgang Mayrhuber is the Chairman of the Executive Board and CEO of Deutsche Lufthansa AG. As such, he is responsible for the aviation group, which comprises the Passenger Airline Group, Logistics, MRO, Catering and IT Services segments and has 115,000 employees worldwide.
Kaspar Villiger, Chairman of the Board of UBS, said: "Wolfgang Mayrhuber has gained substantial leadership experience in his almost 40-year career in a global corporation. He is a highly regarded figure well beyond the airline industry and brings with him strategic as well as operational expertise from his various activities on supervisory boards. I am very pleased that he has agreed to stand for election to our Board."
UBS's annual general meeting takes place on 14 April 2010 in Basel. With the election of Mayrhuber, eleven of the maximum of twelve seats in the Board of Directors would be filled. UBS AG will announce the nomination to fill the final vacancy in due course.
In September, UBS announced that Sergio Marchionne and Peter Voser had declared their intention not to stand for reelection to the Board. Both want to concentrate on their current demanding management positions.