Swiss Voters Approve Limits on ‘Fat Cat’ Executive Compensation

Swiss voters approved some of the world’s toughest limits on executives’ pay in a referendum, a move critics say could make Switzerland less attractive to multinational corporations.

The initiative against “fat cats,” proposed by Thomas Minder, head of a herbal toothpaste company, was backed by 67.9 percent of the voters today, the government said on its website today. The turnout was 46 percent. Polls, including one by gfs.bern, had signaled that outcome as probable.