Such a last-minute change to the agenda of an Annual General Meeting is rather unusual. «The Board of Directors of Leonteq has decided to withdraw the proposal to grant discharge to the members of the Board of Directors and the Executive Committee for the financial years 2024 and 2025,» the company said in a statement released on the morning of the shareholders’ meeting.

The move follows recommendations by the Ethos Foundation, which had advised shareholders to vote against granting discharge to management and had also opposed other items relating to compensation and the sustainability report.

Aftermath of concluded enforcement proceedings

The background to the decision lies in the enforcement proceedings concluded by the Swiss Financial Market Supervisory Authority Finma in December 2024 and the appointment of an independent audit agent.

As the company reiterated, it has addressed all remaining regulatory requirements. «The review of these measures was completed in the second half of 2025 by an audit agent appointed by Finma, with only a few points requiring adjustment or integration into the company’s processes by the end of 2025,» the derivatives provider stated. The final verification of these points began in the first quarter of 2026 and will be completed in due course.

The Board of Directors intends to resubmit the proposal to grant discharge at a future general meeting.

Extraordinary general meeting planned later this year

As previously reported by finews, there had already been a delay in the planned change in the chairmanship of the Board. Originally, Felix Oegerli was to replace the current Chairman Christopher Chambers at today’s Annual General Meeting. This has also been postponed.

The reason is the withdrawal of anchor shareholder Raiffeisen. It is reducing its stake and selling a large part of its position to a group of shareholders that includes Oegerli. Upon completion of the transaction, the group will hold a 30,1 percent stake in the outstanding shares. The election of the new Chairman will take place only once the sale has been completed.