Switzerland: results of the corporate governance referendum

A referendum was held yesterday in Switzerland and one of the proposals on which votes were cast concerned corporate governance. Under the so-called "Minder initiative", after the instigator of the referendum Thomas Minder, voters were asked to approve changes to the law to require the annual election of listed company directors, an annual binding vote on remuneration and certain limits on remuneration. A majority of votes were cast in favour of introducing these changes: see here.