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.
瑞銀(UBS)董事會將自身利益置于投資者利益之上。在非授權交易導致23億美元損失一事曝光之后，董事會未能頂住大眾輿論的壓力，接受了CEO郭儒博(Oswald Grübel)的辭呈。在這樣一個關鍵時刻喪失勇氣，使瑞銀失去了最有能力使自己（再次）回到正軌的人，并造成了令人失望的不確定性。郭儒博從一開始就坦承，此事的責任由他來承擔，但當時人們預計他不會在瑞銀恢復穩定之前下臺。