Glass Lewis opposes re-electing Credit Suisse board’s chair of risk

imageStock Markets11 minutes ago (Apr 13, 2021 07:40AM ET)

(C) Reuters. FILE PHOTO: Switzerland’s national flag flies below a logo of Swiss bank Credit Suisse in Zurich

(Refiles to fix typo, paragraph 1)

ZURICH (Reuters) – Proxy adviser Glass Lewis has recommended shareholders oppose re-electing Andreas Gottschling to Credit Suisse (SIX:CSGN)’s board of directors, saying as chair of the board’s risk committee he should bear ultimate accountability for recent troubles related to Greensill and Archegos at the bank.

“In our view, in order to regain shareholder trust in light of the substantial financial and reputational damage that the company is facing as a result of the aforementioned matters, shareholders would be better served by a change in leadership of the risk committee,” Glass Lewis said on Tuesday.

Credit Suisse is due to hold its shareholders’ meeting on April 30.

(This story refiles to fix typo in paragraph 1)

Glass Lewis opposes re-electing Credit Suisse board’s chair of risk

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