Swiss Rage Against CEO Pay Provokes Vote on Top Earners Cap
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Thomas Aebischer, who grew up on a farm, studied at Harvard Business School and traversed four continents to secure the top finance post at the world’s largest cement maker, Holcim Ltd. On Sunday, Swiss voters will decide if he deserves his salary.
Nine months after putting checks on excessive payouts for executives in a referendum, Europe’s best-paid voters will decide whether to cap the highest wages in a company at 12 times the lowest pay. Swiss corporations and the government have joined forces to oppose the so-called 1:12 initiative, which is forecast to be rejected.