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In a referendum held on March 3, Swiss voters approved plans to limit “the abusive salaries" paid to the CEOs of Swiss companies listed locally or abroad and to outlaw golden parachutes.
Proposed by Thomas Minder, a businessman and senator for the populist right-wing UDC (Union Démocratique du Centre), the measures were endorsed by 68 per cent of the electorate.
“The people have very clearly expressed their discontent with the excessive salaries of recent years, and the politicians are eager to apply this ‘initiative against chicanery’ to the letter,” notes the Zurich daily.
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