ZURICH–(BUSINESS WIRE)–Regulatory News:
Shareholders confirmed the re-election of the Chairman and the
members of the Board of Directors. They elected William C. Dudley and
Jeanette Wong as new members of the Board. They approved the payment of
an ordinary dividend of CHF 0.70 per share, an increase compared with
the previous year. They approved the proposals relating to the
remuneration of the members of the Board of Directors and the Group
Executive Board and accepted the Compensation Report 2018. 1,254
shareholders attended the meeting, representing 2,174,560,674 votes.
The results of the Annual General Meeting 2019 of UBS Group AG
(NYSE:UBS) (SWX:UBSN) are as follows:
Management report and consolidated and standalone financial
statements approved
Shareholders approved the management report and the consolidated and
standalone financial statements for the financial year 2018 of UBS Group
AG (99.01%).
Compensation report approved
Shareholders approved the Compensation Report 2018 with 79.38% in an
advisory vote.
Appropriation of total profit and dividend distribution approved
Shareholders approved the appropriation of total profit (99.67%) and the
payment of an ordinary dividend from the capital contribution reserve of
CHF 0.70 per share (99.74%) for the financial year 2018.
Discharge of the members of the Board of Directors and the Group
Executive Board rejected
Shareholders rejected the discharge of the members of the Board of
Directors and the Group Executive Board for the financial year 2018
(41.67% voted for, 41.64% voted against and 16.69% abstained).
Commenting on the result, Axel Weber, Chairman of the Board of
Directors, said to shareholders: “ I interpret your decision as a
reflection of your concern about uncertainty surrounding the ongoing
court case in France and that you want to keep all possible legal
options open. I can understand that. So allow me again to make the
personal remark from the point of view of the bank’s present-day
management that it had no responsibility in relation to this case at the
time. We can therefore only judge the past on the basis of the available
documentary evidence. In our view, the trial in France did not show in
any way that UBS failed to comply with the regulations that applied at
the time in France and Switzerland. As I already stated in my speech, it
was not possible to reach an acceptable out-of-court settlement in the
France case. That’s why we decided to defend the bank in court. We
believe this was in the best interests of shareholders. Allow me also to
add in this context that, in terms of building reserves, the strictest
legal and regulatory requirements have been met by the Board of
Directors and the Group Executive Board. We will not waver from the
chosen path. And, at the same time, we will continue our dialogue with
you as our shareholders.”
Re-elections to the Board of Directors
The Annual General Meeting confirmed the Chairman of the Board of
Directors, Axel A. Weber (92.24 %), and fellow Board members David
Sidwell (96.45%), Jeremy Anderson (98.53%), Reto Francioni (95.98%),
Fred Hu (95.83%), Julie G. Richardson (95.81%), Isabelle Romy (98.87%),
Robert W. Scully (96.11%), Beatrice Weder di Mauro (98.91%) and Dieter
Wemmer (98.22%) in office for a further year.
Election of new members of the Board of Directors
Shareholders elected William C. Dudley (98.67%) and Jeanette Wong
(99.01%) as new members of the Board of Directors for a one-year term of
office.
Election of the members of the Compensation Committee
Shareholders elected Julie G. Richardson (91.94%), Dieter Wemmer
(94.46%), Reto Francioni (95.41%) and Fred Hu (95.32%) to the
Compensation Committee for a one-year term of office.
Maximum aggregate amount of compensation for the members of the Board
of Directors approved
Shareholders approved the maximum aggregate amount of compensation for
the members of the Board of Directors from the Annual General Meeting
2019 to the Annual General Meeting 2020 (85.93%).
Aggregate amount of variable compensation for the members of the
Group Executive Board approved
Shareholders approved the aggregate amount of variable compensation for
the members of the Group Executive Board for the financial year 2018
(81.44%).
Maximum aggregate amount of fixed compensation for the members of the
Group Executive Board approved
Shareholders approved the maximum aggregate amount of fixed compensation
for the members of the Group Executive Board for the financial year 2020
(86.72%).
Re-elections of the independent proxy and the auditor
Shareholders approved the re-election of the independent proxy ADB
Altdorfer Duss & Beilstein AG, Zurich, (99.68%), and the auditor Ernst &
Young Ltd, Basel, (94.83%).
UBS Group AG
Contacts
Investor contact
Switzerland: +41-44-234 41 00
Media contact
Switzerland: +41-44-234 85 00
UK: +44-207-567 47
14
Americas: +1-212-882 58 58
APAC: +852-297-1 82 00
