ZURICH (dpa-AFX) - Credit Suisse Group (CS), said on Monday that its Chairman António Horta-Osório, resigned following an investigation commissioned by the Board. The company appointed Axel Lehmann as the new chairman.
The Swiss lender also said, the Board will propose Horta-Osório for election as Chairman at the annual general meeting, scheduled for April 29.
Outgoing Chairman Horta-Osório, commented: '.I am convinced that Credit Suisse is well positioned today and on the right track for the future. I regret that a number of my personal actions have led to difficulties for the bank and compromised my ability to represent the bank internally and externally. I therefore believe that my resignation is in the interest of the bank and its stakeholders at this crucial time.'
Last year, Lehmann was elected as a member of the Board following an extraordinary general meeting and also became the Chair of the risk committee.
He was formerly a member of the group executive board of UBS Group, initially as group chief operating officer and then as president personal & corporate banking and president of UBS Switzerland.
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