SINGAPORE -Credit Suisse Chairman Antonio Horta-Osorio has resigned after flouting COVID-19 quarantine rules, the bank said on Monday, raising questions over the embattled lender's new strategy as it tries to recover from a string of scandals.
However, Horta-Osorio's personal conduct has recently come under scrutiny, with reports he breached COVID-19 quarantine rules https://www.reuters.com/business/exclusive-credit-suisse-finds-second-breach-covid-19-rules-by-chairman-sources-2021-12-29 twice in 2021. Credit Suisse said Horta-Osorio resigned following an investigation commissioned by the board https://bit.ly/3fC7Flb, and that board member Axel Lehmann had taken over as chairman with immediate effect.
Horta-Osorio also broke COVID-19 rules on a visit to Switzerland in November by leaving the country during a 10-day quarantine period, the bank said in December. In Britain, Prime Minister Boris Johnson is under pressure to resign after admitting he attended staff drinks during the May 2020 lockdown.After Credit Suisse said Horta-Osorio had broken COVID-19 rules in late November, David Herro, deputy chairman at Harris, the third biggest investor in the bank, said the chairman still retained his absolute support.
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