The board of UBS has put its own interests above those of investors. In accepting the resignation of chief executive Oswald Grübel following the bank’s revelation of a $2.3bn unauthorised trading loss, the board gave in to the gallery of public opinion. By losing its nerve at the critical moment, it has lost the man most able to steer the Swiss bank back on course (again), and, in doing so, created unwelcome uncertainty. Mr Grübel accepted from the outset that the buck stopped with him, but he was expected to stand down only once stability had been restored.
瑞银(UBS)董事会将自身利益置于投资者利益之上。在非授权交易导致23亿美元损失一事曝光之后，董事会未能顶住大众舆论的压力，接受了CEO郭儒博(Oswald Grübel)的辞呈。在这样一个关键时刻丧失勇气，使瑞银失去了最有能力使自己（再次）回到正轨的人，并造成了令人失望的不确定性。郭儒博从一开始就坦承，此事的责任由他来承担，但当时人们预计他不会在瑞银恢复稳定之前下台。