UBS shareholders force confidence vote in Ospel
UBS shareholders are to hold a vote of confidence in the bank's chief executive, Marcel Ospel over his handling of the negotiations concerning the future of the Swissair Group. The vote will be held at next year's Annual General Meeting.
The “UBS without Ospel” association said on Wednesday that it had gained the support of 357,000 shares representing a value of SFr1 million francs. This means the vote can be added to the AGM’s agenda.
The association doubts, however, that it can attract the necessary amount of support to call an extraordinary general meeting before the AGM.
It said around 400 shareholders had contacted it since the group was founded on Friday.
The group’s president, J.Martin Pulver holds Ospel largely responsible for Swissair having to ground its fleet for two days last week.
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