The former chairman of Novartis, who faced a storm of protest over a 72-million-franc golden parachute, is leaving Switzerland, a Swiss newspaper says.
Daniel Vasella is quitting the mountain country to live in the United States, SonntagsBlick said in a report published on Sunday.
“Switzerland has become uncomfortable for him,” the newspaper said, citing a “well-informed” source that it did not name.
Vasella provoked a storm of popular protest in the country when it was revealed last month that he was to receive 72 million francs upon retirement.
(...)
The affair is credited with influencing an initiative, backed earlier this month by 68 percent of Swiss voters, to ban such pay deals and to require binding votes by shareholders on compensation for executive board members of Swiss companies.
First elected chairman of Novartis in 1999 — Vasella held dual roles as CEO and chairman until 2010 — has made headlines regularly for his high salary. Full story...
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Daniel Vasella is quitting the mountain country to live in the United States, SonntagsBlick said in a report published on Sunday.
“Switzerland has become uncomfortable for him,” the newspaper said, citing a “well-informed” source that it did not name.
Vasella provoked a storm of popular protest in the country when it was revealed last month that he was to receive 72 million francs upon retirement.
(...)
The affair is credited with influencing an initiative, backed earlier this month by 68 percent of Swiss voters, to ban such pay deals and to require binding votes by shareholders on compensation for executive board members of Swiss companies.
First elected chairman of Novartis in 1999 — Vasella held dual roles as CEO and chairman until 2010 — has made headlines regularly for his high salary. Full story...
Related posts:
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