The UBS Board of Directors announced today that Dieter Wemmer will not stand for re-election to the Board of Directors of UBS Group AG and UBS AG.

Having joined in 2016, he is the longest serving Board member and has informed the Board of his decision to step down.

UBS Chairman Colm Kelleher commented:

“We thank Dieter for his eight years of invaluable collaboration and distinguished service to our firm. Dieter’s formidable expertise and personality will be missed on the Group Board. During his tenure on the Board of UBS, Dieter was a member of the Risk Committee, the Governance and Nominating Committee, the Compensation Committee and Audit Committee. He has contributed significantly to the strong governance at UBS.”

The Board of Directors of UBS Group AG also announced today that it will nominate Gail Kelly for election to the Board at the Annual General Meeting on 24 April 2024.

Gail Kelly’s executive banking career spans over 35 years. She served as the Group CEO and Managing Director for two banks in Australia, St. George Bank (2002 to 2007) followed by Westpac Bank Corporation (2008 to 2015).

She was a Senior Global Advisor to the UBS Group CEO and Group Executive Board from 2016 to 2023.

She holds a bachelor’s degree of arts from the University of Cape Town and a Master of Business Administration from the University of Witwatersrand, South Africa.