Non-Executive Board Moves in Switzerland

Board Moves

Barry Callebaut

• Barry Callebaut is proposing to expand its Board of Directors from eight to ten members at the Annual General Meeting on 10 December 2025 by electing two new directors, Daniela Bosshardt and John Tiefel. Bosshardt is a seasoned Board chair and business leader with extensive experience in healthcare, finance and technology, including as Chair of RepRisk and previous Board positions at Galenica, Vifor Pharma and Nobel Biocare. Tiefel brings deep expertise in FMCG, retail and operations from his long career as a senior advisor at McKinsey & Company and through his Board experience, including at Moser & Cie.

BKW

• Andreas Rickenbacher will continue to serve on the Board of Directors of BKW as the canton of Bern’s representative after the Cantonal Government (Regierungsrat) of Bern delegated him for another two-year term, extending his current mandate through 2027. Rickenbacher, who has held this role as a mandated Board member since June 2018, is an economist and a former member of the Bern Executive Council, where he served as Director of Economic Affairs from 2006 to 2016, and today works as a management consultant and Board member in various companies.

Bystronic

• Bystronic has nominated Daniel Bischofberger, CEO of Accelleron, and Fabrice Billard, CEO of Burckhardt Compression, for election to its Board of Directors at the company’s Annual General Meeting in April 2026. Bischofberger and Billard are proposed to succeed Dr. Matthias Auer and Urs Riedener, who are not standing for re-election after many years of service, bringing deep global industrial leadership and transformation experience that aligns with Bystronic’s strategic priorities in technology and services.

Calida

• At Calida, the Board of Directors intends to strengthen its governance by proposing Caroline Forster and Nicole Loeb for election as additional Board members at the Annual General Meeting on 15 April 2026. Forster is Co-CEO of the internationally active Forster Group in St. Gallen, bringing long-standing operational and strategic leadership in the textile industry, and was previously a member of economiesuisse’s executive committee. Loeb is a seasoned Swiss retail executive, serving since 2005 as Delegate of the Board and Board Chair of Loeb Holding and Loeb AG, and is active in key industry organisations including the Swiss Retail Federation and a regional advisory council of the Swiss National Bank.

Clariant

• The Board of Directors of Clariant is being streamlined, and five current directors, Roberto Cesar Gualdoni, Geoffery E. Merszei, Dr. Eveline Maria Saupper, Peter Steiner and Konstantin Alfred Winterstein, will not stand for re-election at the 2026 Annual General Meeting on 1 April 2026. This change is intended to align the Board with Clariant’s streamlined operations and address investor concerns about independence, tenure and diversity, with the company planning to propose two new independent Board members to shareholders ahead of the AGM.

Emmi

• At Emmi, the Board of Directors has proposed appointing Alexander Kühnen to the Board at the Annual General Meeting on 9 April 2026, where he would replace long-serving director Monique Bourquin, who is not standing for re-election. Kühnen, CEO of the German Bahlsen Group since 2023, brings extensive leadership and strategic experience from the international consumer goods sector, which the company says will complement its nine-member Board as it continues to develop its strategic direction.

FINMA

• Katia Villard, a professor of criminal law at the University of Geneva, has been appointed by the Swiss Federal Council to the Board of Directors of the Swiss Financial Market Supervisory Authority (FINMA) and will take up her mandate on 1 January 2026 for the remainder of the current Board term running through 2027. She succeeds Ursula Cassani Bossy, who is stepping down at the end of 2025, and brings to FINMA deep expertise in commercial criminal law, anti-money-laundering, corruption-fighting and banking and financial market law, and is independent of supervised entities, with no other Board mandates.

Georg Fischer

• Georg Fischer will propose Ton Büchner for election to its Board of Directors at the 2026 Annual General Meeting on 15 April 2026. Büchner is a Swiss-Dutch dual citizen and veteran industrial leader who has served as Chairman of the Board of Swiss Prime Site since 2020, was Chairman of Burckhardt Compression from 2020 to December 2025, has been a board member of Novartis since 2016, and previously led Sulzer and AkzoNobel.

Graubündner Kantonalbank

• Michèle Hess has been elected to the Board of Directors of Graubündner Kantonalbank (GKB) by the government of the Canton of Graubünden and will assume her role on 1 April 2026. She was chosen for the term 1 April 2026 – 31 March 2030 based on her extensive experience in banking and finance, including roles in financial services compliance, regulatory advisory and financial supervision, and succeeds Ines Pöschel, who is stepping down at the end of her second term.

Green Group

• Franz Grüter, long-time Chairman of the Board of Directors of Green Group, has resigned as Board Chairman effective late October 2025 following the company’s acquisition by the IFM Global Infrastructure Fund. Grüter, who helped build Green into a major Swiss data-centre operator since leading its predecessor and then serving as CEO and Board chair, handed the chairmanship to CEO Roger Süess, who has led the company as CEO since 2019 and will now also head the Board as Green enters its next growth phase. Grüter is reported to remain an advisor to the company after his departure.

Helvetia Baloise

• The Board of Directors has been reconstituted following the merger of Helvetia and Baloise on 5 December 2025 and now includes a broad slate of independent directors with new and adjusted roles reflecting the combined governance structure.
  Dr. Thomas von Planta serves as Chairman, and Dr. Ivo Furrer is Vice-Chairman of the Board. The Board’s composition now features a number of newly elected or continuing independent directors including Dr. Guido Furer, Ernst Christoph Mäder, Dr. Markus R. Neuhaus, Vincent Vandendael and Prof. Dr. Marie-Noëlle Venturi-Zen-Ruffinen, who bring diversified experience from insurance, finance and corporate leadership to the group’s governance. Dr. Thomas Schmuckli, formerly Chairman of Helvetia, continues as a Board member following a role adjustment, while newly elected Chairman Dr. von Planta leads the Board for the combined entity. Hans Künzle and Regula Wallimann left the Board upon completion of the merger, consistent with the integration and Board renewal process under the new Helvetia Baloise Holding structure.

HIAG Immobilien

• At HIAG Immobilien Holding, Balz Halter, a Board member since 2019 and Vice Chairman since 2021, has informed the company that he will not stand for re-election at the Annual General Meeting on 23 April 2026, as he plans to pursue new directions upon reaching the age of 65.

IWB

• Claus Schmidt, the current CEO of Industrielle Werke Basel (IWB), has been elected Chairman of the Board of Directors, taking over from Urs Steiner on 1 July 2026 as Steiner steps down for age-related reasons. Schmidt, who has led IWB operationally since 2017, will move into this strategic oversight role to ensure continuity in leadership amid challenges such as the energy transition and potential full opening of the electricity market.

Lonza

• Barbara Mary Richmond, long-serving Independent Director, will leave the Board at the 2026 Annual General Meeting and not stand for re-election after twelve years of service. Jürgen Bernard Steinemann, currently Independent Vice-Chairman, will also retire from his Board roles across Lonza entities (including Lonza Benelux, Lonza Cologne and Lonza’s main Board) at the 2026 AGM after a twelve-year tenure. As part of structured succession planning, Dr. Claudia Ricarda Süssmuth-Dyckerhoff has been nominated for election as an Independent Vice Chair and member of the Board at the 2026 AGM, with a proposed role on the Remuneration Committee.

Luzerner Kantonalbank

• The Board of Directors of Luzerner Kantonalbank (LUKB) has proposed electing Bernadette Koch as a new Board member at the Annual General Meeting on 13 April 2026. Koch, a Swiss-certified auditor and experienced Board director with previous leadership at Ernst & Young and multiple current mandates (including vice-chair at Swiss Post and roles at PostFinance, Geberit, Mobimo and Energie Oberkirch), will strengthen LUKB’s audit and governance expertise. If elected, the Board will expand to nine members with a 44% female representation, aligning with the bank’s governance goals and regulatory competencies.

Micro-Macinazione

• Jürgen Bernard Steinemann will leave his position as a Board member at Micro-Macinazione, a Swiss pharmaceutical micronization and engineering company based in Monteggio, effective May 2026.

Neutrass

• Edith Müller Loretz has been elected to the Board of Directors of Neutrass, the insurance broker based in Rotkreuz. A seasoned insurance executive, she previously served on the Executive Board of Suva, where she led Human Resources and Occupational Health and was the first woman appointed to Suva’s management in 2019. After almost 30 years with the Lucerne-based insurer, she is now bringing her expertise in digitalisation, customer engagement and innovative insurance solutions to Neutrass as part of its strategic development.

Roche

• At Roche, Dr. Claudia Süssmuth Dyckerhoff will leave the Board of Directors as she has decided not to stand for re-election at the Annual General Meeting in 2026 after nearly ten years of service. Roche Chairman Severin Schwan thanked her for her contributions, particularly her deep sector expertise and understanding of international markets.

Rolex

• Rolex has appointed Alexa Aponte-Vega, Chief Financial Officer of MSC (Mediterranean Shipping Company), to its Board of Directors. Rolex itself, known for its reticent communication, did not issue a press release on the change, but the appointment was reported by Swiss media. Aponte-Vega, who comes from one of the world’s leading shipping families and serves as CFO of MSC, joins the Board of the famously private Geneva-based watch group, marking a high-profile addition to Rolex’s governing body.

RUAG International / Beyond Gravity

• At RUAG International, a planned transition of the Board of Directors is underway as the company sharpens its focus on its space-technology specialist business. Chairman Rainer Schulz, long-time Board member Jürg Oleas (since 2011), and Andreas S. Spreiter (member since 2024) will not stand for re-election at the Annual General Meeting in spring 2026. As part of this transition, the Swiss Federal Council has appointed Daniel Frutig-Meier, 63, as the next Chairman of the Board of Directors. He will join the Board as a regular member following an extraordinary general meeting in December 2025 and formally succeed Schulz as Board President at the 2026 Annual General Meeting. Frutig-Meier brings extensive international leadership experience from CEO and Board chair roles in technology-driven manufacturing companies and is expected to guide the strategic development of RUAG International as it concentrates on its core technology activities.

RUAG MRO

• Claudia Bidwell was elected to the Board of Directors with immediate effect at the Extraordinary General Meeting on 9 December 2025. Bidwell, currently Chief Human Resources Officer at Implenia, adds strong HR and governance expertise to the Board, drawing on senior roles at Novartis and Takeda, as RUAG continues its role as a key technology partner to the Swiss Army.

SBB

• The Board of Directors has nominated Anna Barbara Remund for election as a new Board member at the Annual General Meeting on 29 April 2026. Remund, currently Deputy Director of the Federal Office of Transport, where she leads the Infrastructure division, will step down from that role on 31 January 2026 and bring over 25 years of experience in rail operations, infrastructure and governance to the SBB Board.

SGS

• Long-time Chair of the Board of Directors, Calvin Grieder, who has served on the Board since 2019 and as Chairman since 2020, will step down at the Annual General Meeting on 26 March 2026 after strengthening the company’s governance, Board independence and overseeing a successful CEO succession. The Board has nominated Gilbert Ghostine, currently Chairman of Sandoz and a Board member of Danone and Four Seasons Hotels and Resorts with nearly four decades of global leadership experience, to succeed Grieder as Chairman and Board member and to guide SGS’s ongoing implementation of its “Strategy 27” growth agenda.

SIX

• At SIX, long-time Board member André Helfenstein, a former CEO of Credit Suisse and seasoned banking executive, will assume the role of Chairman effective 1 January 2026, succeeding Thomas Wellauer, who has led the Swiss financial market infrastructure operator since 2020.

SNB - Swiss National Bank

• The Bank Council has nominated Martin Hirzel, President of industry association Swissmem, for election to the Bank Council at the Annual General Meeting on 24 April 2026 to fill the seat vacated by Romeo Lacher. Hirzel, a prominent industrial representative, is proposed to take office from 1 May 2026 for the remainder of the 2024 - 2028 term, succeeding Lacher, who stepped down from the Bank Council effective at the SNB’s AGM on 25 April 2025 after serving as Vice President and chairing key committees such as the Compensation and Nomination Committees.

Sportradar

• Shareholders at an Extraordinary General Meeting on 11 December 2025 elected Breon Corcoran, CEO of IG Group, to the Board of Directors for a term running through the 2026 Annual General Meeting. Corcoran, 54, brings broad leadership experience in technology, digital transformation, and international business from his CEO roles in fintech, online payments, and gaming, including at Zepz, Paddy Power Betfair, and Betfair. His appointment strengthens the Board’s expertise as Sportradar advances its global sports technology strategy.

STMicroelectronics

• STMicroelectronics is set to update its Supervisory Board at the Extraordinary General Meeting on 18 December 2025. Paolo Visca will leave his role as Independent Board member; he resigned in October 2025. New Appointments (effective upon shareholder approval at the 18 December 2025 meeting) include Armando Varricchio, joining the Supervisory Board, replacing Maurizio Tamagnini, who resigned earlier in 2025, and Orio Bellezza, joining the Supervisory Board, replacing Paolo Visca. These Board changes are part of governance realignment and will run through to terms ending at the 2028 Annual General Meeting.

Swiss Life

• The Board of Directors of Swiss Life will see changes at the 2026 Annual General Meeting as long-serving directors Henry Peter (since 2006) and Adrienne Corboud Fumagalli (since 2014) will not stand for re-election, marking a planned Board refresh by the Zurich-based life insurer. In their place, the Board has nominated former Swiss Life CEO Patrick Frost, who led the group from 2014 to 2024 and is standing again after a cooling-off period, and entrepreneur Luisa Delgado Deplazes, Chair of the Board of Swarovski and experienced international business leader, to join the governing body to bring fresh strategic and industry expertise. Board Chairman Rolf Dörig will stand for election for one final term through the 2027 AGM before retiring after 25 years with Swiss Life.

Swissquote

• At Swissquote, Dr. Markus Dennler, who has served on the Board since 2005 and as Chairman since 2019, will step down and not stand for re-election at the 2026 Annual General Meeting as he will reach the company’s age limit in 2026 after a long tenure that saw the firm’s market value grow significantly. The Board plans to propose Hans-Rudolf Köng, who joined the Board in May 2025 and brings deep banking and financial leadership experience, as his successor as Chairman to ensure continuity of governance.

Tecan

• The Board of Directors is set for a leadership refresh at the Annual General Meeting on 15 April 2026: long-serving Chairman Lukas Braunschweiler, who has led the Board since 2018, will not stand for re-election, and the Board will nominate Matthias Gillner, the current Vice-Chairman, as its new Chairman. Gitte Pugholm Aabo will also be proposed for election as a new independent Board member, bringing experience as former President and CEO of the Hearing business at GN Store Nord and a strong financial and leadership background to support Tecan’s governance going forward.

u-blox

• As part of the company’s transition following the completion of its acquisition by Advent International’s subsidiary ZI Zenith in November 2025, several long-serving independent directors, Ulrich Jakob Looser, André Müller, Fabian Rauch, Karin Sonnenmoser, Markus Borchert and Elke Eckstein, will leave the Board of Directors in 2025, exiting their roles ahead of the company’s shift to private ownership and planned delisting from the SIX Swiss Exchange. Shareholders at the Extraordinary General Meeting in October 2025 approved a reconstituted Board structure aligned with the takeover, electing Claudio Simão as Chairman alongside Ronald Ayles and Bernhard Spetsmann as Board members, with these appointments to take effect contingent on the completion of Advent’s public tender offer. Dr. Stephan Zizala, former CEO, is also slated to join the Board as a member, effective 2026, reflecting continuity between the leadership transition and the new ownership phase.

UBS

• Lukas Gähwiler will retire as Vice Chairman of the Board of Directors and will not stand for re-election at the April 2026 AGM after a 45-year career in banking, including leadership roles across UBS and as the final Chairman of Credit Suisse during its integration into UBS. Markus Ronner, UBS’s long-time Group Chief Compliance and Governance Officer and member of the Group Executive Board, is set to be nominated as the new Vice Chairman of the Board at the 2026 AGM, bringing decades of governance, compliance and risk-control experience to the role.

Contact

Dominik Brülisauer
Russell Reynolds Associates
Stampfenbachstrasse 5 | 8001 Zurich | Switzerland
Direct: +41-44-447-30-46
Mobile: +41-79-549-80-28
dominik.bruelisauer@russellreynolds.com