Media Releases Press Release

Press Release

Board of Directors publishes adjusted compensation proposals for the 2017 Annual General Meeting of Shareholders as well as an update to the Compensation Report

Following the CEO and Executive Board proposal to voluntarily reduce their variable compensation by 40% and the Board decision not to increase the total Board compensation for 2017, Credit Suisse Group AG hereby publishes an update to the 2016 Compensation Report, which can be found at www.credit-suisse.com/agm.

To implement this update, the Board further adjusted its recommendation and proposals with regard to the compensation related agenda items to be submitted to the 2017 Annual General Meeting of Shareholders on April 28, 2017 as follows:

1.2 Consultative Vote on the 2016 Compensation Report

Recommendation of the Board of Directors
The Board of Directors recommends that the 2016 Compensation Report, as updated, be accepted.

4.1 Approval of the Compensation of the Board of Directors

Proposal of the Board of Directors
The Board of Directors proposes approving a maximum amount of compensation of the Board of Directors of CHF 12 million (instead of the originally proposed CHF 12.5 million) for the period from the 2017 Annual General Meeting of Shareholders to the 2018 Annual General Meeting of Shareholders.

4.2.1 Short-Term Variable Incentive Compensation (STI)

Proposal of the Board of Directors
The Board of Directors proposes approving the aggregate amount of CHF 17.01 million (instead of the originally proposed CHF 25.99 million), comprising the short-term variable incentive compensation of the Executive Board for the 2016 financial year.

4.2.3 Long-Term Variable Incentive Compensation (LTI)

Proposal of the Board of Directors
The Board of Directors proposes approving the maximum amount of CHF 31.2 million (instead of the originally proposed CHF 52.0 million), comprising the long-term variable compensation of the Executive Board for the 2017 financial year.

All other proposals of the Board of Directors remain unchanged.

Administrative Note on Power of Attorney and Instructions to the Independent Proxy
 

Due to the nature of the update, shareholders who have already issued electronic instructions to the independent proxy can change their instructions electronically via the web service https://gvmanager.ch until Tuesday, April 25, 2017.

Shareholders who have already issued instructions to the independent proxy in writing using the Instructions / Proxy Card can change their instructions by requesting a new form from Credit Suisse Group AG, Share Register, P.O. Box, 8070 Zurich, Switzerland, share.register@credit-suisse.com, +41 44 332 02 02.

Any changes to instructions issued to the independent proxy may be submitted until Tuesday, April 25, 2017.

If a shareholder issues instructions both electronically and in writing, the latest issued instruction applies.

Shareholders who have already issued instructions and do not wish to change them do not need to do anything. Their respective instructions to the independent proxy are deemed to also be valid for the updated recommendation and proposals.