Credit Suisse investors back CEO Tidjane Thiam ahead of showdown
Shareholders' backing suggest the CEO is gaining the upper hand in a power struggle with chair Urs Rohner
Zurich — The balance of power at the top of Credit Suisse is shifting in favour of Tidjane Thiam after key shareholders came out to back the CEO in a clash with chair Urs Rohner.
After a week in which Harris Associates’ David Herro stepped up his rhetoric against any plan to oust Thiam, a second major shareholder entered the fray. Silchester International Investors, a secretive UK investment firm, signalled there should be no change of CEO and joined Herro in demanding that Rohner should step down early if he refuses to back Thiam...