The vice chair of Swiss investment bank Credit Suisse, Severin Schwan, reportedly faces opposition to his re-election to the board.

The Financial Times reported Wednesday that some investors will try and block any move to extend the tenure of Schwan, who has been vice chair since April 2017. The investors were not named but the newspaper said they were among the 10 biggest shareholders in Credit Suisse.

“If he’s up for election there will be a fight,” one top 10 shareholder told the Financial Times.

Schwan is also CEO of Swiss multinational healthcare company Roche.

“His role as Roche CEO does not benefit Credit Suisse…he should [leave Credit Suisse] and go on to another board,” another top 10 shareholder told the newspaper.

Schwan was ready to leave the bank this year but has reportedly been asked by other board members to reconsider his departure.

Schwan told Swiss newspaper Tages-Anzeiger in January that he is undecided on whether he will stand for re-election at the bank’s April 29 shareholder meeting.

“In any case, the task now is to stabilize the bank and I am happy to support the new chairman in this,” he added.

Schwan’s re-election faced 15.8% opposition at the bank’s 2021 annual meeting, due to material governance failures, Proxy Insight Online data reveal.