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