Credit Suisse's top management won shareholder approval for millions in cash and stock as short-term bonuses – only just.
In a series of binding votes under Swiss laws governing executive pay which came into force three years ago, Credit Suisse shareholders nearly succeeded in shooting down an originally planned 26 million Swiss franc bonus pot for 13 top executives.
Just under 60 percent of shareholders approved the bonus pool, which Credit Suisse CEO Tidjane Thiam and others had already backed down from after a massive backlash among investor groups.
The result follows a scathing indictment in a consultative vote on pay earlier in the day, and four hours into a heated shareholder meeting in Zurich.
