Credit Suisse Top Holders Seek to Oust Directors Over Archegos
- Norway sovereign fund to vote against 6 members’ re-election
- Glass Lewis advises against re-electing risk committee head
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Credit Suisse Group AG’s top shareholders have called for the removal of key board members ahead of the bank’s annual general meeting, after mounting losses linked to a failed hedge-fund further eroded confidence in the lender’s leadership.
Norway’s sovereign wealth fund, one of the bank’s top investors, will vote against re-election to the board of six members including lead independent director Severin Schwan, audit committee head Richard Meddings and risk committee head Andreas Gottschling, according to voting instructions published on its website.