Former Northern Rock CFO to take up UBS role

Two former chief financial officers have been nominated to the board of Swiss
bank UBS.

Ann Godbehere, the former chief financial officer for nationalised bank
Northern Rock, and Michael Demaré, the former chief financial officer for
automation technology company ABB, have been nominated to the board of UBS.

UBS announced the nomination of three candidates earlier this week as three
candidates have chosen not to stand for re-election.

Godbehere, the former finance director of bank Swiss Re, took up her role at
rescued bank Northern Rock in early 2008 but announced her resignation after
less than a year, stepping down in February 2009.

Demaré, who joined ABB in 2005 as CFO and a member of the executive
committee, became interim chief executive at the company from February 2008
until September 2008. Prior to that he was CFO for healthcare company Baxter
Europe.

All three nominees have a banking background, the candidates will find out if
they are elected at the next general meeting to be held in April.

Peter Kurer, chairman at UBS, said: ‘I am very excited that we can propose
three exceptionally well-qualified candidates for election to the board of
directors.’

‘They each have specific banking, finance and risk experience, allowing them
to contribute to the various committees it is planned they join’ he added.

The search was carried out by the governance and nomination committee at UBS
with Axel Lehmann as the other candidates.

Further reading:

Rock CFO quits as valuation court battle kicks off