Visitors Now:
Total Visits:
Total Stories:
Profile image
By Ye Olde False Flag
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Swiss vote to impose world’s strictest rules on executive pay after public outcry

Monday, March 4, 2013 14:11
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Swiss citizens have voted to impose some of the world’s strictest controls on executive pay.

Early returns in a referendum revealed 68 per cent backed plans for shareholders to veto executive pay and for a ban on big rewards for new and departing managers.

The clear majority came as a surprise given fierce opposition and intense campaigning by business lobby group Economiesuisse, which warned the proposals will damage the country’s competitiveness and scare away international talent.

Support for the move was sparked by anger over the big bonuses blamed for fuelling risky investments that nearly felled Swiss bank UBS, as well as outrage over a proposed $78 million payment to outgoing Novartis chairman Daniel Vasella.

Claude Longchamp, of pollsters Gfs.Bern, said the public outcry last month that forced Novartis to cancel Vasella’s ‘golden goodbye’ helped drive the campaign.

http://www.dailymail.co.uk/news/article-…z2MXelj7m8



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.