- Voters in Switzerland - home to at least five of Europe's 20 best-paid CEOs - have rejected a proposal by a margin of around 2-1 to cap the salary of company bosses at 12 times that of their lowest-paid staff.
- Firms that would have been affected by a yes vote include UBS (UBS), Credit Suisse (CS), Roche (RHHBY), Novartis (NVS), ABB (ABB), Glencore Xstrata (GLCNF) and Nestle (NSRGY).
- The referendum came after the Swiss electorate approved a proposal in March to give shareholders a binding vote on the pay of senior managers.
- ETFs: EWL, FSZ
Swiss reject measure to cap CEO salaries
Nov 25 2013, 03:15 ET