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LLB Annual Report 2020 de

10 Important changes since the balance sheet date

The Board of Directors proposes to the 29th ordinary General Meeting of Shareholders on 7 May 2021, that Georg Wohlwend be elected as Chairman of the Board of Directors, and that Thomas Russenberger and Richard Senti be re-elected as a members of the Board of Directors for a term of office of three years.

PricewaterhouseCoopers AG, St. Gallen, has been the external auditor of the LLB Group since 1998. For corporate governance reasons, and with a view to the imminent introduction of the mandatory rotation of the auditor in charge, the Board of Directors believes that, after this long period, a change in the external auditors would be appropriate. It proposes to the General Meeting 2021 that KPMG (Liechtenstein) AG be appointed as the new external auditors.

Group CEO Roland Matt decided on 25 January 2021 to leave the LLB Group to pursue a new professional challenge. He stood down from his function with immediate effect. Urs Müller, Vice Group Chief Executive Officer and Head of the Retail & Corporate Banking Division took over the function of Group CEO temporarily from 26 January 2021. Urs Müller, Deputy Group CEO and Head of the Private and Corporate Clients Division, held the position of Group CEO on an interim basis from 26 January to 28 February 2021. Gabriel Brenna has been appointed by the Board of Directors as the new Group CEO as of 1 March 2021. He will continue to lead the Private Banking Division until further notice.