Switzerland – Credit Suisse Chairman Urs Rohner makes his departure official

The Zurich resident who, according to some observers, had gotten out of the mess of the spinning scandal, “too easily”, has to hand over his presidency after nearly 10 years.

Urs Rohner.

KEYSTONE

A page will turn at Credit Suisse during the general meeting of 2021. President Urs Rohner, struck by the term limit, will not stand again. The big bank confirmed this departure Thursday on the sidelines of the publication of results in the third quarter.

Urs Rohner has been a member of the board of directors of the big bank since 2009. He became chairman in 2011. Between 2004 and 2009, he was a member of the general management, notably as operational director.

Spinning scandal

At the last ordinary meeting, the chairman of Credit Suisse found himself at the center of criticism from some major shareholders after the spinning scandal, which caused the departure of former CEO Tidjane Thiam in February and the resignation of the operational director Pierre-Olivier Bouée in 2019. Urs Rohner was nevertheless re-elected this spring for a final one-year term.

The succession process is “well underway”, recalls Credit Suisse in its press release, without providing further details.

Two other shareholders will bow out at the 2021 general meeting, namely Joaquin Ribeiro and John Tiner. The board of directors will propose in replacement the candidatures of two women, Clare Brady, the former director of the internal audit of the International Monetary Fund, and of Blythe Masters, ex-executive of the American bank JP Morgan Chase.

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