The former chairman of the major Swiss bank served as chairman of Savoy Hotel Baur en Ville owned by Credit Suisse. But he's checked out from that mandate.
Urs Rohner, former Credit Suisse chairman has lost what's likely his last mandate at the bank. Rohner still chaired the board of directors of the Credit Suisse-owned Savoy Hotel Baur en Ville through mid-June when new elections were held at the hotel's annual general meeting. At the same time, UBS took control of the hotel on Paradeplatz.
As the «Handelszeitung» (in German, behind paywall) reported on Thursday, in addition to Rohner, Credit Suisse representative Peter Derendinger waived re-election to the hotel's board of directors. Joining the board are UBS secretary general Markus Baumann and Harald Egger, head of Corporate Services at UBS.
What's Next?
What it means for a possible sale of the hotel is unclear, and UBS declined to comment. Credit Suisse wanted to sell the Savoy for some time, and Rohner was originally supposed to find a buyer, which appears to have been unsuccessful.
The hotel is being modernized and remodeled, with completion planned for next year when it reopens under the name Mandarin Oriental Savoy Zurich and will be managed by the Mandarin Oriental Hotel Group.
