Friday, 22 February 2013

Swiss Referendum on Executive Pay

"Switzerland is to hold a referendum on executive pay in early March, with measures to be voted on including a ban on golden hellos and a binding shareholder vote on pay", reports MoneyWeek. Emma Thompson on regards it a "stunning turn of events for the land of secret bank accounts."
The uproar that precipitated the vote has also created sufficient social and political pressure to persuade Novartis to ditch a proposed $78m payoff to departing chairman Daniel Vasella.