Credit Suisse CEO Thomas Gottstein set to depart – WSJ
2022.07.26 22:38
FILE PHOTO: Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland September 2, 2020 REUTERS/Arnd Wiegmann
(Reuters) -Credit Suisse Group AG is set to announce the departure of Chief Executive Officer Thomas Gottstein, the Wall Street Journal reported on Tuesday, citing people familiar with the bank.
The timing of Gottstein’s exit could not be determined but an announcement could come as soon as Wednesday, when the bank reports its quarterly results, the report said. (https://on.wsj.com/3oPnuKh)
Credit Suisse declined to comment on the report.
The Journal also said it could not be determined who would replace Gottstein.
In May, Credit Suisse Chairman Axel Lehmann had reiterated his support for Gottstein amid investor unrest over whether he was the right fit to lead Switzerland’s second-biggest bank.
“I fully back him because he is good,” Lehmann had said in an interview with broadcaster CNBC at the World Economic Forum annual meeting in Davos, dismissing as “rumours and speculations” talk that Gottstein could be on his way out.
The WSJ report comes days after Swiss newspaper SonntagsZeitung reported that the bank was considering how it could cut costs further following a dismal performance in the past quarter.
