Switzerland referendum backs curbs on executive pay

In February it was announced that the outgoing chairman of Novartis, Daniel Vasella, would be receiving a $78 million non-compete pay off over six years

Swiss voters have 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… Continue reading Switzerland referendum backs curbs on executive pay