As Chairman Romeo Lacher plans to step down at the 2025 AGM, Julius Baer accelerates efforts to identify his successor, with an announcement expected by March. The leadership transition follows a period of decisive actions under Lacher’s tenure.
In an unexpected announcement, Julius Baer revealed on Monday that its chairman of the board of directors, Romeo Lacher, will not stand for reelection at the next annual general meeting (AGM) on 10 April 2025.
According to the press release, a successor will be proposed in March as part of the invitation to the AGM. Following the appointment of Stefan Bollinger as CEO, this transition offers an opportunity to advance the Swiss bank's strategic development at the board level under new leadership.
«It is a good time for this change at the board level,» said Lacher.
Succession Search Nearing Completion
The press release stated that the search for a successor is already underway and nearing its conclusion. The proposal for the new board chairman is expected to be announced in March 2025, alongside the invitation to the AGM and the nominations for board elections.
Richard M. Campbell-Breeden, Vice Chairman of the Board of Directors at Julius Baer, commented:
«Under his leadership, the Board has acted decisively to address the impact of the credit losses incurred in 2023 and to appoint a new CEO,» added Richard M. Campbell-Breeden, Julius Baer's vice chairman of the board of directors. «Thanks to Romeo Lacher's efforts and commitment to ensuring a smooth and seamless succession process, we are well-positioned for the next phase of our strategic development.»
Lacher will also step down from the Bank Council of the Swiss National Bank (SNB). Currently serving as vice chairman, he will vacate his position following the AGM on April 25, as announced by the SNB.
