Credit Suisse yesterday announced proposed changes to the composition of its board of directors, including a new chairman appointee.
The Swiss bank said that in light of the good start it has had to 2009 and its strong capital base, clear strategy, experienced board of directors and excellent management team, it is the right time to make such changes.
Current Credit Suisse chairman Walter Kielholz is stepping down from the top job and intends to stand for election as a non-executive director of the bank. Assuming the bank's proposal is accepted, he will be succeeded by current vice-chairman Hans-Ulrich Doerig.
Doerig is a career Credit Suisse banker and has held senior management roles...