The shareholders of the major Swiss bank Credit Suisse refuse to discharge the Board of Directors and the Executive Board for the 2020 financial year. At the General Meeting on Friday, almost 60 percent of the owners spoke out against discharge. They followed the recommendation of the influential proxy advisors Institutional Shareholder Services (ISS) and Glass Lewis. ISS had pointed to a number of risk and control issues that entailed significant financial and reputational costs for the bank and, in turn, for its shareholders. Chairman of the Board of Directors Axel Lehmann stated that he regretted the decision of the shareholders.
Credit Suisse – Discharge denied – Economy
