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Proxy adviser Ethos opposes re-election of Credit Suisse chairman
April 7, 2017 / 11:24 AM / 8 months ago

Proxy adviser Ethos opposes re-election of Credit Suisse chairman

ZURICH, April 7 (Reuters) - Proxy adviser Ethos on Friday recommended Credit Suisse shareholders vote against the re-election of Chairman Urs Rohner and Vice-Chairman Richard Thornburgh in a binding vote at the April 28 annual general meeting.

“In light of the significant litigation involving the bank in the past decade, the enormous indemnifications and fines paid as well as the lack of strategic vision at board level, Ethos recommends changes at the top at the bank,” it said in a statement.

Ethos also rejected the bank’s proposals for management compensation and a dividend of 0.70 Swiss francs ($0.6960) per share given what it called poor results and concerns regarding the bank’s capital ratio.

$1 = 1.0057 Swiss francs Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields

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