UBS (UBS) published agenda for the first Annual General Meeting of UBS Group AG. The UBS Group AG AGM will take place at the Messe Basel on 7 May 2015 at 14.00.
Helmut Panke will be leaving the Board of Directors at this year's AGM due to regulatory provisions regarding the term of office. He has been a member of the UBS Board of Directors since 2004 and a member of both the Human Resources and Compensation Committee or HRCC and the Risk Committee since 2008.
As previously indicated, the Board intends to nominate Jes Staley as a new member of the Board of Directors for a one-year term. If elected, he will also stand for election to the HRCC, as is the case for all other members of this committee. In addition it is expected that he will be nominated as a member of the Risk Committee.
Chairman Axel Weber and the other members of the Board of Directors will stand for re-election for a further one-year term.
The UBS Group AG intends to propose a dividend to shareholders of 0.50 Swiss francs per share for the financial year 2014. This is double the previous year's dividend, and represents 55% of the Group's reported net profit for 2014. In addition, the board intends to propose a one-time additional payout of 0.25 francs per share upon the completion of the acquisition of all shares in UBS AG.
UBS amended its Articles of Association at last year's AGM to take account of the Ordinance against Excessive Compensation in Listed Stock Corporations. At the AGM 2015, shareholders will for the first time be asked to vote on the variable compensation for the Group Executive Board or GEB for the performance year 2014, the fixed compensation for the GEB for the financial year 2016, and the compensation for the the Board of Directors from the AGM 2015 to the AGM 2016.
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