UBS Announces Nominations for New Board Members and Departures at Upcoming AGM

UBS Group AG has announced the nominations of Renata Jungo Brüngger and Lila Tretikov for election to the Board of Directors at its Annual General Meeting (AGM) on April 10, 2025. This move is part of the company's ongoing effort to strengthen its leadership in key areas such as governance, sustainability, and technology.

Renata Jungo Brüngger, a seasoned legal and governance expert, has been proposed for the Board due to her extensive experience in legal affairs and corporate governance. Since 2016, she has been a member of the Board of Management at Mercedes-Benz Group AG, overseeing integrity, governance, and sustainability. Additionally, she has served on the supervisory boards of Munich Re and Daimler Truck Holding AG. Ms. Jungo Brüngger's career spans over three decades, having held senior legal and general counsel roles across multiple global firms. She is expected to bring her expertise in legal compliance and corporate governance to UBS.

Lila Tretikov, recognized for her expertise in artificial intelligence (AI) and technology-driven business transformation, has also been nominated. She currently heads AI strategy at New Enterprise Associates, a prominent venture capital firm in Silicon Valley. Prior to this, she played a pivotal role as Deputy Chief Technology Officer at Microsoft and as Senior Vice President at Engie. Ms. Tretikov's technological background, including her leadership in AI and cybersecurity, is expected to enhance the technological competencies of UBS’s Board.

Alongside these nominations, UBS also announced the departures of two long-serving Board members, Claudia Böckstiegel and Nathalie Rachou, who will not stand for re-election. Böckstiegel, a member of the Board since 2021, will step down to focus on her executive role at Roche. Rachou, who joined the Board in 2020, is leaving for personal reasons. Both have made valuable contributions during their tenure, particularly in corporate culture, risk management, governance, and audit committees.

UBS’s Chairman, Colm Kelleher, expressed his enthusiasm for the new nominations, highlighting how the expertise of Jungo Brüngger and Tretikov will complement the Board’s capabilities, especially in governance, sustainability, and technology. The company is positioning itself to navigate an evolving business environment, with these additions expected to play key roles in shaping UBS's future strategy.