ARTICLE · 19 FEBRUARY 2020

Thiam Tidjane Exits Credit Suisse

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The announcement came amid allegations that Credit Suisse spied on former board members, a scandal that led to the departure of Pierre-Olivier Bouée, its Chief Operating Officer in October 2019.

NetherlandsCorporate/Commercial Law

Edna Twumwaa Frimpong

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On February 7, 2020, Credit Suisse Group AG announced that CEO Tidjane Thiam has resigned, effective Feb. 14, 2020. The company appointed Thomas Gottstein, Head of Unit Credit Suisse (Schweiz) AG, as his successor and their current Head of Institutional Relations, Andre Helfelstein as Gottstein's replacement.

The announcement came amid allegations that Credit Suisse spied on former board members, a scandal that led to the departure of Pierre-Olivier Bouée, its Chief Operating Officer in October 2019.

Background and timeline

In March 2015, Credit Suisse recruited Cote d'Ivoire native Tidjane Thiam from Prudential plc. He replaced Brady Dougan as the company's Chief Executive. The market responded favorably to the news and the company's share price increased significantly.

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