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Press Release

CEO and Executive Board voluntarily propose a reduction of variable compensation by 40% and Board of Directors decides on no increase in total Board compensation for 2017

Since the publication of the Compensation Report, the Chairman of the Board of Directors, Urs Rohner, and member of the Board and Chairman of the Compensation Committee, Jean Lanier, have conducted a thorough engagement with many of Credit Suisse’s shareholders.

Feedback on the Group’s strategy and its execution has been supportive. There were, however, some shareholders who expressed reservations relating to the variable compensation granted to the Executive Board.

The CEO and members of the Executive Board have decided to propose to the Board of Directors that the total variable compensation comprising of Long-Term Incentive awards for 2017 and Short-Term Incentive awards for 2016, as previously granted to them by the Board, be reduced by 40% each.

In addition, the Board of Directors has also decided to maintain total Board compensation at the level of 2015 and 2016, with no incremental increase in 2017 as proposed to the AGM.

Please find the Letters to Shareholders by the Chairman of the Board of Directors, Urs Rohner, and the CEO, Tidjane Thiam on the internet.