Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Reader's Digest names Minder European of year

Share this article

Thomas Minder. Photo: Trybol
11:21 CET+01:00
Swiss politician and businessman Thomas Minder was on Tuesday named European of the Year for 2014 by Reader's Digest for his battle against “abusive” salaries paid to company executives.

The publication praised Minder for his engagement in battling “fat cat” pay packets for top managers in Switzerland.

Swiss voters last March approved Minder’s initiative to ban golden parachutes and advance payments to top managers of Swiss companies, while requiring shareholders to give an annual binding vote on pay for senior execs.

With his campaign, the senator from Schaffhausen succeeded in making executive pay the subject of an important debate at the European level, while giving more power to shareholders, Reader’s Digest said in a statement.

Minder’s initiative was backed by 68 percent of the Swiss electorate in a referendum after the politician waged a successful campaign that was opposed by the federal government and business organizations.

Opponents said the proposal risked harming Switzerland’s appeal internationally as a place to do business, although the policy only applies to Swiss companies.

Get notified about breaking news on The Local

Share this article

From our sponsors

Make this small Mediterranean capital your next city break

Valletta, Malta's small but mighty capital, still feels like one of the Med's undiscovered gems. But it won't stay that way for long. The Local's commercial editor, Sophie Miskiw, explored 2018's Capital of Culture and can't wait to go back.