REG-UBS AG Changes to the UBS Board of Directors

UBS AGAnnouncement

27/02/2026 07:00

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Changes to the UBS Board of Directors

Agustín Carstens and Luca Maestri nominated for election to the Board of
Directors of UBS Group AG and UBS AG at the 2026 Annual General Meetings in
April


 * William C. Dudley and Jeanette Wong will not stand for re-election

 * As previously announced, Vice Chairman Lukas Gähwiler will be stepping down
from the Board and Markus Ronner was nominated for election to the Board 

 

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

The Board of Directors of UBS Group AG (NYSE:UBS) (SWX:UBSN) announces today
the nomination of Agustín Carstens and Luca Maestri for election to the Board
at the Annual General Meeting (AGM) on 15 April 2026. William C. Dudley and
Jeanette Wong have decided not to stand for re-election.

Agustín Carstens (born 1958) served as General Manager of the Bank of
International Settlements (BIS) from 2017 to June 2025. Prior to that, he was
Governor of the Bank of Mexico from 2010 to 2017. During his time as Governor,
he was a Member of the BIS Board and chaired the Global Economy Meeting and
the Economic Consultative Committee. Mr. Carstens also chaired the
International Monetary and Financial Committee, the policy advisory committee
of the International Monetary Fund (IMF), from 2015 to 2017. Earlier in his
career, he served as Mexico's Finance Minister and as Deputy Managing Director
at the IMF. From 2000 to 2003, he was Mexico's Deputy Finance Minister after
holding the position of Executive Director at the IMF. Mr. Carstens began his
career in 1980 at the Bank of Mexico. He holds a Master’s degree and a PhD
in Economics from the University of Chicago. He is a citizen of Mexico. Mr.
Carstens is a highly respected and distinguished professional with extensive
experience in financial regulation and monetary policy, built over a long and
accomplished career.

Luca Maestri (born 1963) is currently Vice President of Apple Inc’s
Corporate Services, reporting to the CEO. Previously, he was Apple’s CFO for
more than a decade after joining the firm in 2013 as Vice President and
Corporate Controller. Prior to that, he served as Executive Vice President and
CFO at Xerox Corporation. From 2008 to 2011, he was Senior Vice President and
CFO at Nokia Siemens Networks. Mr. Maestri spent two decades at General Motors
(GM), holding various finance leadership roles across multiple countries,
including CFO for GM Europe based in Zurich and CFO for GM Brazil in Sao
Paulo. He also led the Fiat Alliance at GM Europe. His experience spans
assignments in Thailand, Singapore, Ireland, Switzerland, Italy, Germany,
Brazil and the United States. Mr. Maestri holds a Bachelor’s degree in
Economics from Luiss University in Rome and a Master’s degree in Management
from Boston University. He is a citizen of Italy and the United States. Mr.
Maestri is a highly renowned executive and leader in the technology industry.

UBS Chairman Colm Kelleher commented: “I am delighted to share the
nomination of Agustín Carstens and Luca Maestri for election to the Board.
The addition of these two highly experienced leaders will further strengthen
the Board’s expertise, bringing outstanding regulatory knowledge and
extensive CFO skills. This follows the earlier announcement of former UBS
Group Executive Board member Markus Ronner’s nomination as Vice Chairman. I
very much look forward to collaborating with them on the Board.”

As previously communicated, Lukas Gähwiler has decided, after an
exceptionally successful career spanning 45 years, to retire from his role as
Vice Chairman of the Board of Directors and concluding his long career in
banking. He was appointed Vice Chairman in 2022 and acted as UBS’s
representative within Switzerland’s leading trade associations and financial
industry bodies. Furthermore, as the final Chairman of Credit Suisse AG, he
played an instrumental role in overseeing the seamless integration of Credit
Suisse into UBS.

William C. Dudley and Jeanette Wong have also decided to step down after seven
years on the Board. During this time, Mr. Dudley served on the Corporate
Culture and Responsibility Committee, the Risk Committee and the Governance
and Nominating Committee. Ms. Wong was a member of the Audit Committee, the
Corporate Culture and Responsibility Committee and the Compensation Committee.

Chairman Colm Kelleher and the members of the Board extend their gratitude to
Lukas Gähwiler, William C. Dudley and Jeanette Wong for their unwavering
commitment and significant contributions over the past years.

UBS Group AG and UBS AG

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

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