Switzerland
On the 3rd of March the Swiss voted by 69.7 per cent to ensure shareholders, pension funds and not banks, entirely control questions of executive pay. Shareholders must elect all members of a company's remuneration committee of all Swiss public listed companies. They further should receive annual votes on the identity of all members of the board of directors. The role that banks played in casting votes on other shareholders behalf has been abolished.
Read more about this topic: Say On Pay
Famous quotes containing the word switzerland:
“I look upon Switzerland as an inferior sort of Scotland.”
—Sydney Smith (1771–1845)
“In a war everybody always knows all about Switzerland, in peace times it is just Switzerland but in war time it is the only country that everybody has confidence in, everybody.”
—Gertrude Stein (1874–1946)
“In Italy for thirty years under the Borgias they had warfare, terror, murder, bloodshed—they produced Michelangelo, Leonardo da Vinci and the Renaissance. In Switzerland they had brotherly love, five hundred years of democracy and peace, and what did they produce? The cuckoo clock!”
—Orson Welles (1915–84)