The Norwegian Wealth Fund will vote against 7 Credit Suisse directors.
The Norwegian sovereign wealth fund said on its website that it will vote against the re-election of several Credit Suisse group directors, including chairman Axel Lehmann, at the bank’s annual investor meeting.
The troubled Swiss lender, which was acquired by UBS Group AG last month in a landmark government-brokered takeover, is scheduled to hold its shareholder meeting on April 4.
The Norwegian fund had reduced its stake to about 1% in “Credit Suisse”, according to what “Bloomberg” quoted from a spokesperson for “Credit Suisse” in March, and which Al Arabiya.net viewed.
Other board members at Norges Bank Investment Management will vote against Iris Bonet, Christian Gellerstad, Shan Lee, Serena Macia, Richard Middings and Ana Pessoa.
“Shareholders should have the right to request changes in the board of directors when it is not acting in their best interests,” the fund said.