Ethos has taken good note of Credit Suisse’s voluntary decision to reduce by 40% the variable remuneration of the executive management and to keep the board’s fees unchanged. In Ethos’ view, the remunerations are still too high in light of the CHF 2.7 billion loss posted by Credit Suisse in 2016.

Ethos therefore maintains its voting recommendations issued on 7 April 2017. Ethos recommends to oppose the remuneration report, the amount of fees for the board, the fixed and variable remuneration of the executive management, as well as the reelection of the Chairman, Urs Rohner and the Vice-chairman Richard Thrornburgh.

Amended proxy report for Credit Suisse’s AGM