Unlike former UBS executives Marcel Ospel and Peter Wuffli, former Credit Suisse Chairman Urs Rohner sees no reason to repay elements of his salary to his former employer.
According to calculations by Swiss business magazine «Bilanz» (In German, Paywall), the long-time chairman of the board of Credit Suisse, Urs Rohner, still holds around 320,000 shares in the firm, to be redeemed on a staggered basis until 2025.
No Clawback
The package still has a value of about 1.2 million Swiss francs after the sharp fall in the share price. But unlike deferred salary components for members of the Group Executive Board, the bank no longer has access to these shares. Board of Directors salaries are paid out directly with the fee.
Rohner spent five years on Credit Suisse's Group Executive Board and twelve years on the board of Switzerland's second-largest bank, during which time it slid deeper and deeper into crisis.
After the UBS fiasco in 2008, those responsible at the time, Marcel Ospel and Peter Wuffli, voluntarily surrendered packages in the tens of millions. Rohner left a question from «Bilanz» unanswered as to whether he also would pay back the money.
