UBS Elects Former Morgan Stanley President Colm Kelleher as New Chairman, Succeeds Axel Weber
8th April 2022 | Hong Kong
UBS has elected former Morgan Stanley President Colm Kelleher as UBS new Chairman, succeeding Axel Weber. The shareholders of UBS Group AG approved all of the Board of Directors’ proposals at the Annual General Meeting (AGM).
“ UBS Elects Former Morgan Stanley President Colm Kelleher as New Chairman, Succeeds Axel Weber “
UBS AGM 2022
The shareholders of UBS Group AG approved all of the Board of Directors’ proposals at the AGM. The independent proxy represented 2 085 438 629 votes at the AGM.
Management report and consolidated and standalone financial statements
The shareholders approved the management report and the consolidated and standalone financial statements of UBS Group AG for the 2021 financial year by 99.26%.
Compensation Report
The shareholders ratified the Compensation Report 2021 in an advisory vote by 85.92%.
Advisory vote on the UBS climate roadmap
The shareholder ratified the UBS climate roadmap in an advisory vote by 77.74%.
Appropriation of total profit and dividend distribution of ordinary dividend out of total profit and capital contribution reserve
The shareholders approved the appropriation of total profit and an ordinary dividend distribution of USD 0.50 (gross) per share in cash (99.75%).
Discharge of the members of the Board of Directors and the Group Executive Board
The shareholders approved the discharge of the members of the Board of Directors and the Group Executive Board for the 2021 financial year (excluding all issues related to the French cross-border matter) (93.15%).
Re-elections of members of the Board of Directors
The AGM confirmed Jeremy Anderson (98.46%), Claudia Böckstiegel (98.70%), William C. Dudley (99.10%), Patrick Firmenich (99.11%), Fred Hu (95.83%), Mark Hughes (99.12%), Nathalie Rachou (99.12%), Julie G. Richardson (97.79%), Dieter Wemmer (98.59%) and Jeanette Wong (98.40%) for a one-year term of office.
Elections of new members to the Board of Directors
The shareholders elected Colm Kelleher as new Chairman (97.74%) and Lukas Gähwiler as new Vice Chairman (96.92%) for a one-year term of office.
Re-elections of the members of the Compensation Committee
The shareholders confirmed Julie G. Richardson (94.33%), Dieter Wemmer (95.55%) and Jeanette Wong (95.18%) for a one-year term of office.
Maximum aggregate amount of compensation for the members of the Board of Directors
The shareholders approved the maximum aggregate amount of compensation for the members of the Board of Directors from the 2022 AGM to the 2023 AGM (92.56%).
Aggregate amount of variable compensation for the members of the Group Executive Board
The shareholders approved the aggregate amount of variable compensation for the members of the Group Executive Board for the 2021 financial year (86.08%).
Maximum aggregate amount of fixed compensation for the members of the Group Executive Board
The shareholders approved the maximum aggregate amount of fixed compensation for the members of the Group Executive Board for the 2023 financial year (93.10%).
Re-elections of the independent proxy and the auditors
The shareholders approved the re-election of the independent proxy, ADB Altorfer Duss & Beilstein AG, Zurich, (99.68%) and the auditors, Ernst & Young Ltd, Basel (93.85%).
Reduction of share capital
The shareholders approved the request for a capital reduction by way of the cancellation of 177,787,273 shares repurchased under the 2021 share buyback program (99.58%).
New share buyback program
The shareholders approved a new 2022 share buyback program (94.98%).
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