Seeking Alpha

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.
Comments (1)
  • Petey109
    , contributor
    Comments (9) | 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, 06:02 PM Reply Like
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