It appears European countries are way ahead of the curve on this subject.
Last week,after the European Union (EU) enacted a law limiting the bonus to top executives to one year of their salary, Switzerland, not a EU member, added another damper on compensation to the managers of the companies listed on Swiss stock exchanges. According to BBC’s website, the newly passed referendum will give shareholders of these companies a say on the pay to their executives. The new laws in Switzerland also eliminate outrageous severance pay to departing managers.
Besides being of a country known for its highly productive citizens, and pristine environment, Switzerland, a politically neutral country, also becomes the front runner to rein in excessive compensation to business CEO’s. - Ayee .
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