Federal popular initiative
"against rip-off salaries"
c/o Trybol Ltd.
PO Box 1068
Rheinstrasse 86
8212 Neuhausen
Switzerland
Phone +41 52 672 23 21
Fax +41 52 672 19 40
February 26, 2008 – Submission "against rip-off salaries"
The Swiss federal popular initiative "against rip-off salaries" was
submitted today to the Federal Chancellery in Berne with 118,583
certified signatures!
The initiative demands that:
shareholders
of Swiss listed companies must validate the total of all remunerations
of the board of directors and of management on an annual basis
termination pays, advance payments as well as bonuses in the event of company sales be forbidden
pension
funds (including AHV funds [Swiss old-age and survivors' insurance]) be
obliged to vote at general meetings in the interest of their insured
customers and to disclose their voting behaviour
the shareholders be allowed to distance vote electronically (without being physically present at the general meeting)
the shareholders fix the number of additional positions (outside the group) of board members
Through
these and other measures, enrichment at top management level can
finally be put paid to, and democracy for shareholders can be improved.
May 24, 2007 – The Wall Street Journal article
In todays issue of The Wall Street Journal Europe the front page story "Big pay deals irk a CEO" reports about the Swiss federal popular initiative "against rip-off salaries".