Credit Suisse shareholders seek removal of risk chief after twin scandals Big investors target Andreas Gottschling in wake of Archegos and Greensill controversies
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Some of Credit Suisse’s largest shareholders will attempt to remove the board member in charge of risk oversight, in protest at twin scandals that have cost the bank and its clients billions and tarnished its reputation.
Andreas Gottschling – a 53-year-old German who has served as chair of the risk committee since 2018, earning a $1 million (€830,000 ) annual fee – has come under fire after the Swiss bank lost at least $4.7 billion from the collapse of family office Archegos Capital.
Credit Suisse : investors oppose risk chairman s Gottschling re-election
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Top Credit Suisse shareholders seek removal of risk chairman Andreas Gottschling: report
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Credit Suisse revolt to remove risk chief, 53,after Archegoes and Greensill scandals
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Nestlé trumpets its green credentials as shareholders approve $3.5 billion net-zero plan Fortune 7 hrs ago © Valera Golovniov SOPA Images/LightRocket via Getty Images
Nestlé, the world s biggest food conglomerate, is boosting its green credentials with a wide ranging set of initiatives costing 3.2 billion francs ($3.5 billion) over the next five years, including a 1.2-billion-franc ($1.3 billion) investment in regenerative agriculture.
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At the company s AGM in Switzerland on Thursday, shareholders approved the company s plans to go net-zero by 2050. The target date lags competitor Unilever, which hopes to reach net-zero by 2039.
In order to decarbonize, Nestlé will have to rework its entire supply chain which currently produces 95% of its emissions. It plans to address the remaining 5% by making its operations more sustainable by using renewable energy and modifying its product portfolio to include environmentally friendly offerings.