Get Breaking Alerts on Stocks Before The Mainstream Media

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We guarantee you to keep your privacy
Connect with us
Financial Press
the-wall-street-journal:-credit-suisse-chairman-steps-down-following-board-probe-into-his-conduct
the-wall-street-journal:-credit-suisse-chairman-steps-down-following-board-probe-into-his-conduct

Breaking

The Wall Street Journal: Credit Suisse chairman steps down following board probe into his conduct

Credit Suisse Group AG Chairman António Horta-Osório is leaving the global bank following a board investigation into his travel and personal conduct, according to people familiar with the bank.

Credit Suisse
CS,
+0.38%

said late Sunday that Horta-Osório had resigned following an investigation commissioned by the board. The people said the investigation examined his conduct, including travel that breached COVID-related government rules and his personal use of corporate aircraft. He joined the Credit Suisse board less than a year ago.

Credit Suisse said board member Axel Lehmann was appointed to take over the chairman role, effective immediately. Lehmann, a former executive at UBS Group AG, joined the Credit Suisse board in late 2021 and is chair of its risk committee.

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure 🙂

Spokespeople for Credit Suisse didn’t respond to requests for comment. Horta-Osório couldn’t be reached late Sunday, and a lawyer for him didn’t respond.

“I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally,” Horta-Osório said in a Credit Suisse news release. “I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.”

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Day traders as ‘dumb money’? The pros are now paying attention.

Elon Musk’s Tesla asked law firm to fire associate hired from SEC.

Written By

Click to comment

Leave a Reply

Your email address will not be published.

Related Articles

Breaking

Much has been made about an imminent, full-blown recession, triggered by the unwinding of record stimulus by the Federal Reserve and resulting steep correction...

Breaking

At Love Cork Screw, a Chicago-based wine company that has sold more than 1 million bottles since 2013, founder Chrishon Lampley says she and...

Breaking

It was a sure bet to lose your shirt. The Florida head of a high-priced sports gambling tip service has been charged with allegedly...

Breaking

Treasury yields were little changed to lower on Wednesday after minutes of the Federal Reserve’s May 3-4 policy meeting reinforced expectations that policy makers...

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address
We are Spam free & Secure :)

Get Breaking Stock Alerts

Email address

Get Breaking Stock Alerts

Stay informed of the biggest news on stocks so you can react before 90% of retail investors.
Email address