– SWITZERLAND, Zurich – Credit Suisse Group (SWX: CSGN) today announced the appointment of Axel Lehmann as the new Chairman of its Board of Directors, effective immediately, succeeding António Horta-Osório, who resigned following an investigation commissioned by the Board.
“Axel Lehmann as the new Chairman, with his extensive international and Swiss industry experience, is ideally suited to drive forward the strategic and cultural transformation of the bank. We wish Axel every success in his new role and António all the best for the future,” commented Vice-Chairman and Lead Independent Director, Severin Schwan.
About Axel P. Lehmann
Axel Lehmann was elected as a member of the Board of Directors of Credit Suisse Group by the Extraordinary General Meeting held on October 1, 2021, and also became the Chair of the Risk Committee. He was formerly a member of the Group Executive Board of UBS Group, initially as Group COO and then as President Personal & Corporate Banking and President UBS Switzerland. Between 2009 and 2015, Mr. Lehmann served as a non-executive director and a member of the Risk Committee of UBS Group and was a member of the Governance and Nominating Committee from 2011 to 2013.
His career at Zurich Insurance Group spanned almost 20 years, nearly 14 of which were as a member of the Group Executive Committee in various roles. These include responsibility for the insurer’s European and North American business, group IT, and CRO.
Axel Lehmann commented: “I would like to thank the Board for the trust it has placed in me and look forward to working even more closely with the Board and the Executive Board. We have set the right course with the new strategy and will continue to embed a stronger risk culture across the firm. By executing our strategic plan in a timely and disciplined manner, without distraction, I am convinced that Credit Suisse will demonstrate the renewed strength and business focus needed to generate sustainable value for all of our stakeholders.”
Mr. Lehmann currently holds mandates at several academic and non-profit institutions, including serving as an adjunct professor at the University of St. Gallen.
He holds a Ph.D. in Business Administration from the University of St. Gallen and is a graduate of the Advanced Management Program of the Wharton School, University of Pennsylvania, USA. Mr. Lehmann is a Swiss citizen.
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