ZURICH (Reuters) – Credit Suisse (CSGN.S) said on Friday it had accepted Chief Executive Tidjane Thiam’s resignation following a spying scandal. The Zurich-based bank said he would be replaced by Thomas Gottstein, the head of the bank’s Swiss business.

Credit Suisse’s board also said Chairman Urs Rohner had backing to complete his term that runs until April 2021.

“Urs Rohner has led the Board of Directors commendably during this turbulent time,” said board member Severin Schwan in a statement. “After careful deliberations, the Board has been unanimous in its actions, as well as in reaffirming its full support for the Chairman to complete his term until April 2021.”

Reporting by John Miller; editing by Thomas Seythal

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