“It cannot and must not be that bonuses are paid out after such a desolate business year,” said Minder, a member of the Swiss parliament.
Bloomberg News reports that Minder spent five years collecting signatures to force a nationwide vote on executive pay in Switzerland. His proposal -- that shareholders rather than company boards decide how much executives are paid -- was backed by 67.9% of voters in a March 2013 referendum.
Minder, also the owner of a herbal toothpaste maker, is joining the chorus of shareholder advisers such as Ethos and zRating that have urged Credit Suisse investors to reject the $36m in bonuses the bank is proposing to pay top managers for 2015.
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