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Credit Suisse CEO ousted

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Credit Suisse Group AG CEO Tidjane Thiam was ousted from the company.

Thiam has faced a battle with the board after a scandal emerged that top management hired detectives to follow former executive Iqbal Khan. Thiam was cleared in an internal probe and a close lieutenant was blamed, but the bank has struggled to move past the controversy.

The board named 20-year Credit Suisse veteran Thomas Gottstein as the company's new CEO.

Read more from Bloomberg.

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