• Push-out Score determined
• After about five years in the position
• Praise and thanks for Thiam
• Thomas Gottstein taking over
• Thiam spoke at length and said 132 words

(exechange) — Zurich, Switzerland, February 7, 2020 — Tidjane Thiam, chief executive of Credit Suisse, leaves. As announced by Credit Suisse Group AG in a news release on Friday, February 7, 2020, Tidjane Thiam leaves his post as chief executive officer at the Swiss multinational investment bank after about five years in the role, effective February 14, 2020.

Tidjane Thiam’s duties as CEO will be taken over by Thomas Gottstein, currently member of the Executive Board of Credit Suisse Group AG.

“No knowledge of the observation of two former colleagues”

A reason for Tidjane Thiam’s departure from the CEO post was not explicitly provided. Tidjane Thiam said: “I had no knowledge of the observation of two former colleagues. It undoubtedly disturbed Credit Suisse and caused anxiety and hurt. I regret that this happened and it should never have taken place.”

Precise information regarding Tidjane Thiam’s future plans was not immediately available.

“Resignation”

Credit Suisse said: “The Board of Directors, at its meeting of February 6, 2020, accepted Tidjane Thiam’s resignation as Group CEO, effective February 14, 2020. He will step down following the presentation of the fourth quarter and full-year results 2019.”

Share price decline

The announcement follows a decline in Credit Suisse Group AG’s share price of 44% since March 2015.

Chaired by Urs Rohner

Credit Suisse Group AG is chaired by Urs Rohner.

In the position of CEO since 2015

Tidjane Thiam became CEO of the Company in 2015.

His bio reads as follows:

Born 1962 – French and Ivorian citizen

Member of the Executive Board of Credit Suisse Group AG and Credit Suisse AG since 2015

Professional history

2015-present Credit Suisse

• Chief Executive Officer of the Group (2015-present)
• Member of the board of Credit Suisse (Schweiz) AG (Swiss subsidiary) (2016-present)

2008-2015 Prudential plc

• Group Chief Executive (2009-2015)
• Chief Financial Officer (2008-2009)

2002-2008 Aviva

• Chief Executive, Europe (2006-2008)
• Managing Director, International (2004-2006)
• Group Strategy & Development Director (2002-2004)

2000-2002 McKinsey & Co

• Partner, Paris

1998-1999 Minister of Planning and Development, Côte d’Ivoire

1994-1998 National Bureau for Technical Studies & Development, Côte d’Ivoire

• Chairman and Chief Executive

Prior to 1994 McKinsey & Co

• Consultant, Paris, London and New York.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.

exechange reached out to Credit Suisse and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 6.2020 ($).