April 26, 2019
ZURICH (Reuters) – Shareholders approved Credit Suisse’s 2018 compensation report with an 82 percent majority on Friday, overriding frustrations expressed at its annual general meeting over jumps in executive pay during a year its share price plummeted.
Three shareholder advisers had recommended investors vote against Switzerland’s second-biggest bank’s remuneration report, while a fourth backed the report but expressed reservations about whether management pay matched performance.
The approval marked a slight increase over the 80.8 percent support garnered for the bank’s 2017 compensation report.
(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)