LLB AG: Georg Wohlwend nominated as Chairman of the Board of Directors
Vaduz, 21 December 2020. The Board of Directors of Liechtensteinische Landesbank AG (LLB) will be proposing to the General Meeting of Shareholders on 7 May 2021 that Georg Wohlwend be elected as Chairman of the Board of Directors. It also proposes re-election of Board of Directors members Thomas Russenberger and Richard Senti for a second term of office.
The Liechtenstein Public Prosecutor's Office has discontinued preliminary investigations against Georg Wohlwend on suspicion of insider trading. The case was not related to his activities at the LLB Group. In order to avoid bringing harm to the Bank, Georg Wohlwend resigned as Chairman of the Board of Directors of the LLB at the beginning of November 2020.
The LLB Board of Directors is very pleased that the facts of the case have been conclusively clarified and that the proceedings against Georg Wohlwend have proven to be groundless. The Board of Directors will therefore be proposing to the General Meeting of Shareholders on 7 May 2021 to re-elect him as Chairman. Until the 2021 General Meeting of Shareholders, Vice Chairman Gabriela Nagel-Jungo will continue to perform the duties of the Chairman of the Board of Directors.
The Board of Directors also proposes re-election of Board of Directors members Thomas Russenberger and Richard Senti for a second term of office lasting three years. Both were elected to the Board of Directors for the first time in 2018. Thomas Russenberger is Chairman of the Group Nomination & Compensation Committee, and Richard Senti is Chairman of the Group Risk Committee and member of the Group Nomination & Compensation Committee.
Liechtensteinische Landesbank AG (LLB) is the longest established financial institute in the Principality of Liechtenstein. The majority of the company's share capital is held by the Principality of Liechtenstein. LLB's shares are listed on SIX symbol: LLBN). The LLB Group offers its clients comprehensive wealth management services, as a universal bank, in private banking, asset management and fund services. With 1'075 employees (full-time equivalent positions), LLB is represented in Liechtenstein, Switzerland, Austria and the United Arab Emirates (Abu Dhabi and Dubai). As per 30 June 2020, the business volume of the LLB Group stood at CHF 86.5 billion.
- 11 March 2021, presentation of the annual results for 2020
- 7 May 2021, 29th ordinary General Meeting of Shareholders
Liechtensteinische Landesbank AG
Dr. Cyrill Sele
Head of Group Corporate Communications & Sustainability
Telephone +423 236 80 99