The statement published on the Saudi stock exchange said the board of directors of the Saudi bank accepted Ammar AlKhudairy's resignation due to personal reasons.
Credit Suisse's shares plummeted on 15 March after AlKhudairy said that the Saudi bank would not raise its stake from 9.8 per cent due to regulatory constraints.
The following day, Credit Suisse rallied in the stock market after grabbing a US $54 billion central bank lifeline in a bid to restore investor confidence.
But fears about the health of the broader financial sector led to its takeover by domestic rival UBS on March 19.
In the immediate aftermath of his comments, AlKhudairy tried to minimise what he described as a panic, but a lot of people were just looking for excuses, he told CNBC.
It's panic, a little bit of panic. I believe that it is completely unwarranted, whether it be for Credit Suisse or the entire market. The Wall Street Journal reported last week that Saudi National Bank's US $1.5 billion investment in Credit Suisse was made at the behest of the kingdom's de facto ruler, Mohammed bin Salman.
Some officials at the Saudi sovereign wealth fund thought that the move was too risky, raising legal issues and the potential for large future losses.