The director of Credit Suisse Group was replaced today, one and a half months subsequent to disrupting COVID-19 quarantine norms – he had entered Switzerland on 28 November last year, been educated that he was needed to serve the full 10-day quarantine period, and afterward speedily convoluted and flew out on a personal luxury plane on 1 December. He therefore revealed the break to Swiss specialists, and referred to it as “accidental” in his expression of remorse.
In an impromptu declaration of the substitution, Credit Suisse said that António Horta-Osório resigned with quick impact following a board-charged examination concerning the December occurrence. That examination had likewise turned up a previous break. In July he slipped UK quarantine rules to go to the Wimbledon tennis finals, as per a Reuters report. Unexpectedly considering later turns of events, the greatest draw of Wimbledon 2021 was best on the planet Novak Djokovic – who has recently been extradited from Australia over a COVID squabble – effectively protecting his title.
Horta-Osório was selected chairman in April 2021, turning into the main non-Swiss director throughout the entire existence of Credit Suisse, and throughout the previous 9 months had the unenviable undertaking of guiding the bank through a rough year that incorporated the Archegos calamity – which lost the bank billions – the as yet waiting repercussions of its 2019 spying embarrassment.
The Credit Suisse board has named Axel P. Lehmann as the new chairman, likewise with prompt impact. Lehmann joined the board last October and has a long profession in finance, having held senior gathering influential positions at UBS Group and Zurich Insurance Group. His appointment will be officially proposed at the following yearly comprehensive gathering in April.
