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[h=2]Swiss referendum backs executive pay curbs[/h]
March 4th, 2013 |
Author: Online Press
There was outrage in Switzerland over a $78m pay off, later scrapped, to the outgoing Novartis chairman
(3 Mar) – Swiss voters have overwhelmingly backed proposals to impose some of the world’s strictest controls on executive pay, final referendum results show.
Nearly 68% of the voters supported plans to give shareholders a veto on compensation and ban big payouts for new and departing managers.
Business groups argued the proposals would damage Swiss competitiveness.
But analysts say ordinary Swiss are concerned about a growing economic divide in the country.
The vote came just days after the EU approved measures to cap bankers’ bonuses.
.
More in: http://www.bbc.co.uk/news/world-europe-21647937
.



(3 Mar) – Swiss voters have overwhelmingly backed proposals to impose some of the world’s strictest controls on executive pay, final referendum results show.
Nearly 68% of the voters supported plans to give shareholders a veto on compensation and ban big payouts for new and departing managers.
Business groups argued the proposals would damage Swiss competitiveness.
But analysts say ordinary Swiss are concerned about a growing economic divide in the country.
The vote came just days after the EU approved measures to cap bankers’ bonuses.
.
More in: http://www.bbc.co.uk/news/world-europe-21647937
.