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CS shareholders carried Lindor balls at the five -hour general assembly meeting on Tuesday, Cailler chocolate bars and thousands of pet bottles of water. It is distributed among the audience by the aids.
CS President Axel Lehmann (64) is empty on the stage. Instead, there are whistles and booments for him at the beginning of the GM. However, for the first time for the fall of the bank, he manages to calm angry shareholders by personally apologizing. Lehmann, “Developing, surprised, affected by everyone’s pain, anger and shock I can measure,” he said. «We wanted to make the rudder better with all our strength. The fact that time is not there hurts me, and sincerely, I’m sorry. “
Less than half accepted the invitation
Lehmann repeated his apology several times in the next five hours – which gave him the respect of the shareholders. Just as dozens of small investors go to the podium one after the other and stand for hours as they allow their frustrations to go crazy.
1784 shareholders came together in Hallenstadion. This is too much compared to 1,300 in the last Physical General Assembly four years ago. But they don’t even represent 50 percent of voting rights. A sign that many shareholders have already completed CS.
Red tie on the red card
However, it is important that approximately 30 shareholders contact CS management again – even if their votes no longer change the end of the bank.
The shareholder Peter Röthlisberger is on the podium by wearing a red tie, the symbol of the red card that he wants to give to the bank management and politicians for the CS fiasco. “I feel terrible as a shareholder.”
Caudio Scharher is even more creative. During his speech, he opens a handful of trees: “A sack makes approximately a feeling.” Hazelnuts opened, seven and shells glued again. For “the biggest hollow walnut” – former CS President Urs Rohner (63) – There is even a coconut next to Scharacher. The action caused loud laughter and applause in the hall.
Croissant instead of Chateaubriand
The shareholder Daniel Engler dared to make a comparison about the kitchen: “25 years ago, I could have a chateaubriand equivalent to a CS share. Lehmann, partly aggressive, partially humorous breaks calmly and even thanked them for hollow walnuts.
Other speakers continue to be more serious. For example, Actares Association calls for support for affected CS employees. Ethos Foundation, representing pension funds among CS shareholders, criticizes the bonus culture in the bank. CS President Lehmann, during the general assembly in the bonuses “a certain imbalance” also acknowledged.
Lehmann has succeeded – Körner has to be beaten
With its critical votes, the shareholders do nothing but stress, when they vote: there, despite all the criticisms, they fulfill the recommendations of the Chairman of the Board of Directors Axel Lehmann by majority vote. – Sometimes only by a very thin majority.
For example, when the board of directors was re -elected: 5 out of 12 members of the board announced their resignations on the morning of the General Assembly. All remaining 7 were selected again – but everything else is comfortable. Axel Lehmann gets almost 56 percent of the votes. Christian Gellerstadt (55) manages to be re -elected with an extremely strict 50.05 percent. The General Assembly, with 50.42 percent of the Board of Directors of the charging of the hair approved.
CS CEO Ulrich Köner (60) is less successful. In the first place, it only appears in GM for a short time. In his speech, he regrets the end of the bank, but shifts some of the responsibility to “wrong rumors and speculation” that can lead to loss of confidence. Körner left the stage to boo. Later, he has to watch AGM even reduce his salaries – the administration’s salary falls with 48 percent yes and 48 percent of the vote. It is not yet clear how the bank will deal with it.
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.
