Credit Suisse Group AG’s board is backing Chief Executive Officer Tidjane Thiam ahead of a crucial Monday meeting that will determine who takes the blame for a botched spying scandal, according to people familiar with the matter.
Recent expressions of support by shareholders for senior executives is swaying the board, which has few obvious successors for Thiam should he be ousted, the people said, asking not to be identified as the matter is private. Credit Suisse, whose investigators had been focusing on the role of Chief Operating Officer Pierre-Olivier Bouee, are still weighing whether any executive at the board level will be punished, the people said.