Nominations for BCV's Board of Directors and proposed organizational measures

BCV's Board of Directors met this morning, and decided that its top priority would be the upcoming Extraordinary General Meeting, which it set for October 30th, 2002. The Board also decided upon its nominations for seats as new Members of Board of Directors, and will propose the following candidates to the General Meeting: Ms Beth Krasna, Mr André Pugin, and Mr Jean-Luc Strohm.

In addition, the Executive Board proposed that the Board of Directors take strong measures, on both the strategic and organizational levels, to improve the Bank's operational efficiency and profit-making capacity. In light of the strategic impact of what was proposed, and keeping in mind that a new Board of Directors will be taking office very shortly, the present Board did not feel it was appropriate to make a decision on the matter at this point in time. Rather, the present Board wishes to leave its successors with all the decisional latitude requisite to their duties.

The Executive Board will therefore rapidly implement a transitional organizational structure. The choices made and priorities set will be submitted for approval to the new Board of Directors after October 30th. Detailed implementation guidelines, on both the organizational and strategic levels, will be mapped out by the end of 2002. Actual implementation will begin in the first quarter of 2003.

Lausanne, 18 September 2002

Contact(s)

Daniel Herrera, Head of Communications
Phone +41 844 228 228
E-mail