Swiss citizens were on track on Sunday to impose some of the world's strictest controls on executive pay, giving shareholders in public companies a binding vote on compensation, initial result projections showed.
A projection by polling institute Gfs.Bern for Swiss state television based on early results showed 70 percent backed plans to give shareholders a veto on executive compensation and ban big payouts for new hires and departing managers.
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Support for the proposal was fired by anger over the big bonuses blamed for fuelling risky investments that nearly felled Swiss bank UBS , as well as outrage over a $78 million payment to outgoing Novartis chairman Daniel Vasella.
(Reporting by Emma Thomasson; Editing by Louise Ireland)