VP Bank elects new chairman
Following the Annual General Meeting held last Friday, VP Bank elected Thomas R. Meier as the new Chairman of the Board of Directors. The former Deputy Chairman of the Board of Directors will succeed Fredy Vogt.
Thomas R. Meier has been a member of the Board of Directors at VP Bank since 2018 and was elected Deputy Chairman of the body in February 2019, VP Bank states in a press release. The new Chairman of the Board of Directors has “long-standing international banking and management experience”, according to the press release. In his new role, Meier will be tasked with shaping the future of the VP Bank Group during the Strategy 2025 implementation process.
Fredy Vogt is to remain an ordinary member of the Board of Directors until his mandate expires next year, VP Bank explains further in the press release. Vogt, who has worked at VP Bank since 1987, will additionally “continue to exercise a variety of foundation board mandates for VP Bank”.
In the press release, VP Bank mentions that voting on resolutions at the Annual General Meeting held on April 24, 2020 was conducted by way of electronic and postal votes due to the currently enforced ban on public gatherings, before also stating that the shareholders in the bank “voted by a large majority to approve all of the motions put forward by the Board of Directors”. Among other things, dividend pay-outs amounting to 5.50 Swiss francs per registered share A and 0.55 Swiss francs per registered share B were approved. Moreover, the bank was authorized to conduct a share buy-back program of up to 10 percent of the share capital in VP Bank.