Credit SuisseAxel Lehmann denies reports that negotiations have been initiated to replace Thomas Gottstein as CEO.

Bloomberg News earlier reported this month, citing people familiar with the matter that Credit Suisse’s board has held preliminary stage discussions to possibly replace Gottstein at the helm. The talks were initiated after years of misfortunes and scandals.

Lehmann was directly asked about his reporting. He said, “They didn’t talk to us and I know that it hasn’t happened, so it is incorrect.”

Artisan Partners has been named Credit Suisse’s nine largest shareholder. called for the company to appoint a new CEOReuters reported this last week.

Lehmann, however, said that he supports Gottstein fully “because he’s good,” while speaking with CNBC in Davos at Monday’s World Economic Forum.

Lehmann stated that although it is difficult for the company to deal with, they have a plan and are working on the plan. “We are rebuilding the company basically,” Lehmann added.

“So in this regard, all the rumors and speculations — I have read them as well — it is rumors and speculations, and by the way, there are other investors that call me and say ‘Axel, make sure that you stabilize the company and don’t change all the wheels at the same time’.”

After the election, Gottstein was named CEO. resignation of predecessor Tidjane ThiamIn February 2020, following a long-running spying scandal.

Credit Suisse posted a net loss during the first quarter in 2022. The company announced a management restructuring as it faces litigation costs related to its business. Archegos hedge fund collapseAlong with the aftermath of the conflict in Ukraine,