ZURICH, April 28 Credit Suisse
shareholders on Friday approved proposed compensation for its
top managers and board of directors despite significant
opposition to its decision to pay bonuses after a 2.7 billion
Swiss franc ($2.7 billion) loss in 2016.
Investors holding 59.6 percent of the voting rights
supported short-term bonuses of 17 million francs for Credit
Suisse's executive management team, down from 81.5 percent in
the corresponding vote at last year's annual meeting.
Senior management at Credit Suisse, Switzerland's
second-biggest bank, had volunteered a 40 percent cut in their
bonuses amid unrest over the pay packets. The board of directors
also offered to freeze their pay.
Shareholders in Swiss companies have veto power over
executive and board compensation thanks to a referendum on the
issue in 2013.
Shareholders also comfortably re-elected Chairman Urs Rohner
to another year in office despite calls for him to step down.
($1 = 0.9919 Swiss francs)
(Reporting by Joshua Franklin; Editing by Michael Shields)