Changes to the UBS Board of Directors

• Lukas Gähwiler decides to retire after 45-year career in financial services; will not stand for re-election to UBS Group AG Board of Directors
• Markus Ronner will be nominated as Vice Chairman of UBS Group AG Board of Directors

ZURICH--(BUSINESS WIRE)-- Regulatory News:

Ad hoc announcement pursuant to article 53 of the SIX Exchange Regulation Listing Rules

Lukas Gähwiler will not stand for re-election to the UBS Group AG (NYSE:UBS) (SWX:UBSN) Board of Directors at the Annual General Meeting (AGM) in April 2026. After an exceptionally successful career spanning 45 years, he decided to retire from his role as Vice Chairman of the Board of Directors, concluding his long career in banking.

Lukas Gähwiler has served UBS in several leadership roles: from 2010 to 2016 as member of the Group Executive Board of UBS Group AG and President of UBS in Switzerland, followed by his tenure as Chairman of UBS Switzerland AG. In 2022 he was appointed as Vice Chairman of the UBS Group AG Board of Directors. In addition to his board responsibilities, he represented UBS in Switzerland’s most important trade associations and financial industry organizations. As the final Chairman of Credit Suisse AG, he played a pivotal role in the successful integration of Credit Suisse into UBS.

Colm Kelleher said: “It is with great appreciation and deep regret that I had to accept the resignation of Lukas. On behalf of all of UBS, our clients and external partners, I want to thank him for his tremendous contributions and unwavering commitment to UBS. Lukas is one of the most respected bankers in Switzerland and has been a key driving force behind the success of UBS, particularly in Switzerland. He was instrumental in preparing and executing the Credit Suisse transaction, and served as the final Chairman of Credit Suisse AG during an exceptionally demanding transition. Personally, Lukas has been my closest partner since I joined UBS. His expertise, social skills, integrity and work ethics set him apart. He will be greatly missed, and I wish him only the very best for his new endeavors.”

Sergio P. Ermotti said: “Lukas has been a trusted partner throughout my entire career at UBS. As President and later Chairman of UBS in Switzerland, he fundamentally repositioned and strengthened UBS in Switzerland, significantly contributing to the Group’s success. Over the past nearly three years, it has been a privilege to work closely with him on the successful integration of Credit Suisse. While I will miss him and his invaluable contributions, I fully understand his decision to end his outstanding career in banking and embrace new priorities.”

Markus Ronner is proposed to succeed Lukas Gähwiler and will be nominated as new member of the Board of Directors and Vice Chairman at the AGM 2026. Markus Ronner is a Swiss citizen and has been with UBS his entire professional career since 1981. Over the last 25 years, he has held several global leadership roles in business, control and audit functions. Markus Ronner became a member of the Group Executive Board in 2018, when he took over his current role as the Group Chief Compliance and Governance Officer, overseeing compliance, financial crime prevention and operational risk control as well as regulatory and governance functions at the Group level. From 2022 to 2023 Markus Ronner also served as the chairman of UBS Switzerland AG. He is a recognized expert in regulation, risk control and governance and well respected by Swiss and international authorities.

Colm Kelleher said: “I congratulate Markus on his nomination. His extensive and unique experience in financial services will provide the Board with valuable insights. In his role as Vice Chairman, he will represent UBS across several key industry bodies. I am looking forward to working closely with him upon his election.”

Sergio P. Ermotti said: “Markus’s foundational work over the past 15 years helped shape the firm’s legal structure and governance. Since joining the Group Executive Board in 2018 as Group Chief Compliance and Governance Officer, Markus has navigated through a demanding non-financial risk environment, based on industry-leading compliance, financial crime prevention and operational risk management standards and established a robust resolvability framework for UBS. I thank Markus for his outstanding contributions and look forward to continuing to work with him in his new role.”

The succession of Markus Ronner will be communicated separately.

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Source: UBS Group AG