Lufthansa boss heads for UBS

UBS yesterday nominated Wolfgang Mayrhuber, the chief executive of airline Deutsche Lufthansa, for election to its board of directors. Sixty-two-year-old Mayrhuber “brings with him strategic as well as operational expertise from his various activities on supervisory boards,” UBS chairman Kaspar Villiger said. UBS will replace Sergio Marchionne and Peter Voser, who say they won’t stand for re-election to the board, electing to spend more time in their roles as heads of Fiat and Royal Dutch Shell respectively. The bank has replaced nine of its 12 members on the board in the past two years.