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UBS Loses Fiat/Chrysler and Shell Oil CEOs from Board of Directors
In today's economy, few industries are hurting as much as automobiles and finance. And while there are more than a few shining stars working on fixing both, by and large they're not the same people. Against this backdrop, the chief executives of Fiat and Chrysler on the one hand and Shell oil on the other are stepping down from the board of Swiss banking giant UBS.
Sergio Marchionne, who is currently serving simultaneously as CEO of both the Fiat and Chrysler automotive groups – including the Alfa Romeo, Lancia, Fiat, Dodge, Chrysler and Jeep brands, among others – was touted as a potential candidate for chief executive of UBS, and currently serves as its vice chairman. Royal Dutch Shell CEO Peter Voser, meanwhile, rose to his current rank after several years as its chief financial officer. But with Fiat, Chrysler and Shell all in the midst of comprehensive restructuring plans, neither Marchionne nor Voser have the time and energy to be supervising UBS AG's restructuring as well.
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