Credit Suisse Investors Urged to Reject Executive Pay Plan
- Shareholder adviser questions compensation for Thiam, Bouee
- Glass Lewis also recommends rejecting discharge of liability
A Credit Suisse logo is displayed at entrance to a Credit Suisse Group AG bank branch in Zurich.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Credit Suisse Group AG shareholders should reject the bank’s compensation plan over proposed payments to former executives after a corporate spying scandal, a top shareholder adviser said.
Investors should be concerned about the lack of disclosure of overall compensation for former Chief Operating Officer Pierre-Olivier Bouee, who was blamed for the spying and fired in December, Glass Lewis said in a report seen by Bloomberg. It also questioned the board’s decision to allocate full “good leaver” remuneration to former Chief Executive Officer Tidjane Thiam, even though he was also pushed out.