The Credit Suisse Group Annual General Meeting held on 31 May 2002 was long and particularly lively. The three resolutions presented by ethos received widespread support. The results were the following :
1st resolution (prohibition of the dual function of Chairman-CEO) : 18.6% in favour.
2nd resolution (director mandates limited to 2 years and individual election of directors) : 12.0% in favour.
3rd resolution (disclosure of rules of remuneration) : 16.2% in favour.
Such results represent a success for those who support better corporate governance at CS Group. They indicate that a growing number of shareholders disapprove of the fact that Mr. Lukas Mühlemann holds the positions of both Chairman and CEO. In this regard, the votes are a clear signal to company management.
