Swiss Referendum Backs Executive Pay Curbs

gollum123 writes in with news that Switzerland may soon have the world's strictest corporate rules. "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. The new measures will give Switzerland some of the world's strictest corporate rules. Shareholders will have a veto over salaries, golden handshakes will be forbidden, and managers of companies who flout the rules could face prison.The 'fat cat initiative', as it has been called, will be written into the Swiss constitution and apply to all Swiss companies listed on Switzerland's stock exchange. Support for the plans — brain child of Swiss businessman turned politician Thomas Minder — has been fueled by a series of perceived disasters for major Swiss companies, coupled with salaries and bonuses staying high."

Comments

Just guess

[no-body]

Who else is not worth the money being paid.. M$ BG comes to mind...

Re:Before people scream socialism

[HornWumpus]

Those would be Hong Kong and Singapore.

Switzerland has fucking hygene inspectors that have to OK your moving out of any apartment or house for fucks sake. Sink not clean enough to use as an operating room? You must stay and clean.

We kind of like their gun control policy, not perfect but the best Europe has to offer by far.