August 29, 2008
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UBS announces boardroom shuffle
UBS AG announced a major boardroom reshuffle yesterday, the second since the Swiss banking giant suffered heavy losses as a result of the U.S. subprime crisis. Four of the bank's 12 board members will step down. Analysts at Zuercher Kantonalbank welcomed the changes, which will see Stephan Haeringer, Rolf Meyer, Peter Spuhler and Lawrence Weinbach leave the board. Replacements have not been named.
This column was compiled from dispatches by the Associated Press.
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