Credit Suisse's chief and other top executives offered on Friday to have their bonuses slashed by 40 percent, following investor concern over the size of their proposed compensation packages.
Credit Suisse chief Tidjane Thiam and the bank's executive board proposed that the "long-term incentive awards for 2017 and short-term incentive awards for 2016 ... be reduced by 40 percent each," according to a statement.
The board of directors would also leave its compensation unchanged at the same level as 2015 and 2016, and would not accept a proposed incremental increase, it added.
"My highest priority is to see through the turnaround of Credit Suisse which is under way," Thiam said in a letter to shareholders published on Friday. Full story...
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Credit Suisse chief Tidjane Thiam and the bank's executive board proposed that the "long-term incentive awards for 2017 and short-term incentive awards for 2016 ... be reduced by 40 percent each," according to a statement.
The board of directors would also leave its compensation unchanged at the same level as 2015 and 2016, and would not accept a proposed incremental increase, it added.
"My highest priority is to see through the turnaround of Credit Suisse which is under way," Thiam said in a letter to shareholders published on Friday. Full story...
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