The Chairman of the Credit Suisse Board of Directors resigns.
(Photo: Reuters)
Berlin Following reports of quarantine violations, the Board of Directors of Credit Suisse has announced the resignation of Chairman Antonio Horta-Osorio with immediate effect. Axel Lehmann had been appointed as the new Chairman of the Board of Directors, it said in a mandatory announcement on Monday night.
“I regret that some of my personal actions have caused difficulties for the bank and have affected my ability to represent it internally and externally,” Horta-Osorio said. “I have therefore come to the conclusion that my resignation at this time is in the interest of the bank and its stakeholders.”
Horta-Osorio has been accused of flouting quarantine regulations in Switzerland during the coronavirus pandemic. According to a report by the Reuters news agency, the Swiss bank later investigated a second alleged violation. At the end of December, major shareholders had backed Horta-Osorio.
More: Credit Suisse is apparently planning dual leadership in investment banking.
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