Clearstream International announces today that it has reached an agreement with its long term former President and CEO, Andr Lussi, which gives both parties the opportunity to end the contractual relationship. Clearstream International and Mr. Lussi have both agreed not to give details of the agreement but both parties confirm that the agreement has been reached with mutual consent.
Clearstream had suspended Mr. Lussi in May 2001 after the Luxembourg authorities had started enquiries concerning suspicions of money laundering. After several months of intensive investigations the judicial authorities have declared in July 2001 that they had found no evidence of systematic money laundering.
Robert R. Douglass, Chairman of the Board of Directors of Clearstream International said: “Andr Lussi has made substantial contributions to the success of the company. In his 13 years of service, Clearstream became the leading player in the international capital markets. Andr Lussi was the architect of a modern, dynamic and highly regarded organisation. It is very much the result of his work that Clearstream is in such a strong position today.”
Mr. Douglass added that he personally regrets that decisions had to be taken and that suspicions without any substance had led to the retiring of Mr. Lussi. He said he was happy that a solution has been found which on the one hand gives Clearstream the chance to look ahead now and which on the other hand ends a time of uncertainty for the company and for Andr Lussi.