Bonus Watch '11: UBS Chief Executive Doesn't Think He's Earned It This Year

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In assessing his performance this year, Oswald Gruebel said he added no value.

UBS AG Chief Executive Oswald Gruebel won't accept a bonus for 2010, despite the bank's having returned to profit last year and halted massive outflows of wealthy client funds.

"I'm forgoing a bonus because I was not in a position to add value for our shareholders—our share price ended 2010 at nearly the same level as it began the year," Mr. Gruebel said in a telephone interview. UBS' shares ended 2010 4.4% lower.

UBS CEO Will Forgo 2010 Bonus [WSJ]