Wednesday , June 23 2021

Raiffeisen's Executive Director Patrik Gisel immediately resigned

Patrik Gisel has been working with Raiffeisen Switzerland since 2000. (Picture: Christian Beutler / Keystone)

Patrik Gisel has been working with Raiffeisen Switzerland since 2000. (Picture: Christian Beutler / Keystone)

kkl./(sda) CEO of Raiffeisen, Patrik Gisel, immediately departs from all his duties. Gisel and the Steering Board of Raiffeisen Switzerland have agreed to prefer their planned resignation by the end of the year, the company said on Friday night.

It was decided to take this step to finalize public discussion of its person and enable the Raiffeisen Group to focus on future challenges, he said. The reason for Gisel's withdrawal is one Connection with a former member of the board. The media have already speculated about Gisel's premature resignation.

Currently, according to announcement, Michael Auer, Deputy Chairman of the Executive Board, will take over the operational management of Raiffeisen Switzerland. Then he wanted to leave the organization at her request, she said.

In July, Gisel announced his resignation as president of the Raiffeisen Group. Since 2000 he has been working with Raiffeisen Switzerland, and since October 2015, the President of the Executive Board. Then he succeeded Pierin Vincenz at the head of Raiffeisen; because this spring against Vincenza was determined for suspicion of unfair business affairs. The heir to Gisels should be found by the end of 2018, he said in a statement.

Tomorrow on Saturday, the Raiffeisen Co-operative at an extraordinary meeting of delegates in Brugg-Windisch starts a new step from Vincenz's shadow. The most important agenda item is the election of a new chairman of the board of directors.

Most observers expect Guy Lachappelle to be the chair of the board chair. That is, although his nomination led to some controversy. Former CEO of Basler Kantonalbank is largely responsible for his role in the affair involving fake asset managers ASE, where ASE clients with BKB accounts suffered millions of losses. However, he approved the financial market supervision Finma candidacy Lachappelles as well as other candidates VR. The amount of his subsequent remuneration was also a topic of discussion.

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