Credit Suisse shook up its board on Monday, including the departure of its influential vice chair Severin Schwan, as it attempts to draw a line under a series of damaging scandals.
Switzerland's second largest bank said that Schwan, 54, who was its lead independent director as well as chief executive of Roche , would not stand for re-election to the board of directors at Credit Suisse's annual general meeting on April 29.
The Zurich-based bank said it had nominated Christian Gellerstad to succeed Schwan, who joined the board in 2014 and has been vice chair and lead independent director since 2017. Shares in the bank, which lost more than 22% of their value last year and a further 14.5% this year, were up 0.5% at 7.63 Swiss francs at 1158 GMT.
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