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
05 February 2020 - 19:58
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.