2013 Swiss executive pay initiative

The 2013 Swiss executive pay initiative of 2013 was a successful federal popular initiative in Switzerland to control executive pay of companies listed on the stock market, and to increase shareholders' say in corporate governance.

Due to corporate scandals leading up to the 2007–2008 financial crisis, Thomas Minder launched a campaign "against rip-off salaries" (gegen die Abzockerei).

[2][3] The public campaign drew particular attention to the large payouts for executives of Novartis and major Swiss banks.

A German initiative followed a month later, and if passed would represent a significant broadening of pay controls in Europe.

95 paragraph 3 (new) (3) In order to protect the economy, private property and shareholders and to ensure sustainable management of businesses, the law requires that Swiss public companies listed on stock exchanges in Switzerland or abroad observe the following principles: (a) Each year, the Annual General Meeting votes the total remuneration [6] (both monetary and in kind) of the Board, the Executive Board and the Advisory Board.

[8] It led to calls by the German Social Democratic Party to introduce similar reforms in Germany[9] and it is quoted in the Bill proposed in Italy on cap-salaries for public employees.