The UBS Board of Directors has announced that it will nominate Reto Francioni for election to the Board at the Annual General Meeting of Shareholders on 2 May 2013.
Wolfgang Mayrhuber has announced his decision not to stand for re-election to the Board of Directors at the firm's Annual General Meeting of Shareholders.
Reto Francioni has been CEO of Deutsche Börse AG since 2005. Prior to this, he held various executive positions: among others, he was Chairman of the Swiss Exchange in Zurich (SWX Group), co-CEO of Consors AG, Nuremberg, as well as a member of the directorate of the corporate finance division of Hoffmann-La Roche, Basel.
He worked for Credit Suisse in New York and elsewhere. He started his career at UBS in Zurich. He holds a PhD in law, and is professor of applied capital markets theory at the University of Basel. Reto Francioni is a Swiss citizen and was born in Zurich on 18 August 1955. He is married and has two grown-up children.
UBS Chairman Axel Weber commented: 'On behalf of the Board of Directors, I would like to express my gratitude to Wolfgang for his dedication and commitment to UBS and for the outstanding expertise he brought to the firm as a member of the Board, Chair of the Corporate Responsibility Committee and member of the Human Resources and Compensation Committee. At the same time I am very pleased to announce the nomination of Reto Francioni for election to the Board. He is an internationally acknowledged expert with a long track record in international capital markets and banking. Subject to his election, we are convinced Reto will further strengthen the Board by bringing invaluable experience and insights to the firm'.
UBS's 2013 Annual General Meeting of Shareholders will take place on 2 May in the Zurich Hallenstadion.