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Had Hermann Struchen been alive, he would certainly have spoken at today’s Credit Suisse Annual General Meeting. Struchen has made a public name for himself as a speaker at various general meetings of major Swiss companies. He passed away in October 2017 at the age of 87.
Given the current context, his statements at Credit Suisse plenary meetings are particularly memorable. “The best thing about Credit Suisse is the Christmas tree on Paradeplatz,” he said at the AGM in spring 2017. I really like you as a person But for us shareholders, last year was a disaster!» He had only lost money on Credit Suisse shares for years.
“I’m too strict”
Hermann Struchen received great applause at plenary meetings for his critical comments on management remuneration. “Salaries over a million are legalized theft,” he once said. In a joint stock company, only the management earns a lot of money, while the shareholders cannot get anything. Criticism that Credit Suisse will certainly repeat after its collapse.
Struchen was particularly happy to evaluate the culinary presentations at the meetings. “If you want to live a long life, you have to eat right,” he said about catering to shareholders. Here, Credit Suisse got off to a positive start for once. With pretzel croissants, sandwiches, and chocolate, the bank leaves nothing to be desired when it comes to hospitality. “It’s almost heavenly,” says Struchen, who is also happy to receive a pen as a gift.
Struchen spent his entire life in Zurich-Altstetten and attended about 30 general meetings a year. “I’m tremendously strict,” he said with a wink once. He no longer had to witness the current decline of the bank.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
