4/13, 7:26 AM (Source: TeleTrader)
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Outgoing chairman Rohner to leave Credit Suisse board

Outgoing chairman of Credit Suisse, Urs Rohner (pictured), will not be standing for re-election to the board of directors at the end of the month, the bank announced on Tuesday.

The scandal-hit lender stated it will nominate wealth management expert Christian Gellerstad, who joined Credit Suisse in 2019 after 14 years at Pictet Group, to the board at its annual general meeting scheduled for April 30.

Rohner was already set to step down as chairman after reaching the statutory 12-year term and be replaced by Antonio Horta-Osorio. Earlier this month, Credit Suisse decided to scrap Rohner's 1.5 million franc fee for the 2020-2021 period in the wake of the Archegos Capital Management scandal.

Breaking the News / NP