Weatherford moving to Ireland ahead of changes to Swiss executive pay


Weatherford (WFT -0.9%) says it plans to move its legal domicile to Ireland from Switzerland and remove its shares from trading on the Swiss stock exchange in Zurich.

The move comes six months after the Swiss government passed a law that will allow company shareholders to make binding votes on executive and board member compensation, and prohibiting severance payments to departing executives.

Shareholders will be asked to approve the proposed change at a meeting in June.

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Comments (1)
  • Petey109
    , contributor
    Comments (10) | Send Message
     
    As a long suffering shareholder through the accounting scandals, tax issues and the rest, i say au revoir Switzerland and hello Ireland!
    3 Apr 2014, 06:02 PM Reply Like
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