3rd of March – Hello Goodbye!

Switzerland is set to impose some of the world’s strictest curbs on executive pay following a national referendum which will force companies to get shareholder approval on “golden handshake” compensation deals among a raft of other measures.

Around 68 percent of voters support the “Rip-off Initiative”, according to projections by Swiss public television station SRF.

If the initiative passes, shareholders will not only be given the right to hold a binding vote on both salary and bonuses for executives and directors, one-off bonuses for senior managers joining or leaving the company would be banned.

Apart from putting an end to “golden hellos” and “golden goodbyes”, all loans to executives will also have to be declared to shareholders.

Hello Goodbye

Hello Goodbye

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