Credit Suisse Chairman Expects To See Out Term After Spy Scandal | 11/6/2019 | Staff
jenny1246jenny1246 (Posted by) Level 3
VIENNA (Reuters) – Credit Suisse Chairman Urs Rohner does not expect to be voted out of office before his term ends after this week’s departure of Chief Executive Tidjane Thiam over a spying scandal.

“I am not afraid of being voted out of office,” Rohner was quoted as saying by newspaper Schweiz am Wochenende on Saturday, adding that the supervisory board had acted unanimously in deciding with Thiam that he should step down.

Rohner - Responses - Shareholders - Decision

Rohner also said he had received “clear responses” from shareholders supporting the decision.

Credit Suisse, which is Switzerland’s second-largest bank and among the biggest in Europe’s largest, hopes Thiam’s exit will draw a line under the scandal that hit its reputation and shocked the Swiss financial community.

Move - Risk - Shareholders - Thiam - Rohner

But the move also runs the risk of irking international shareholders who had backed Thiam, not Rohner. Credit Suisse and Thiam, CEO for almost five years, say he was not...
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