Voser and Marchionne to leave board of UBS, bank announces

FIAT boss Sergio Marchionne and Shell chief executive Peter Voser are to step down from the board of UBS, the Swiss bank said yesterday.<br /><br />Marchionne, the bank&rsquo;s senior independent director, and fellow board member Voser, said they would stand down at the company&rsquo;s general assembly in April next year, to spend more time on their full-time roles.<br /><br />UBS chairman Kaspar Villiger said: &ldquo;I would like to thank the outgoing board members&hellip; for their strong contributions to the management of our firm.&rdquo;<br /><br />The departures come as chief executive Oswald Gr&uuml;bel said the bank wanted to free itself of state aid within a year. He also confirmed that US wealth management unit Paine Webber is for sale, but said UBS would not sell at current valuations.