Minder Initiative: The Wrong Approach: Christian Katz CEO SIX Swiss Exchange Explains Why It's Disconcerting That The Initiative To Restrict The Bonuses And Salaries Is Only Aimed At Companies Listed On The Swiss Exchange

In an interview[PDF] (only in German) with the Swiss Newspaper St. Galler Tagblatt from 29 January 2013, Christian Katz, CEO SIX Swiss Exchange, expresses his criticism of the Minder-Initiative on which the Swiss People will vote on 3 March 2013. He deplores that the initiative is only targeted at one in every thousand companies in Switzerland - namely those that are listed on SIX Swiss Exchange. Furthermore, Christian Katz speaks about the danger that the unequal treatment may lead to delistings.

Locational advantages endangered

By delisting, companies currently listed on the Swiss exchange could avoid having to conform to the requirements of the initiative. This would have a significant negative impact on transparency. In the interview, Christian Katz also highlights the risk of harmful consequences on the attractiveness of Switzerland as a business location and warns against the unfortunate signal that is sent to other countries should the initiative be voted in.

Against excessive salaries

Meanwhile, Christian Katz does not defend excessive salaries, but on the contrary speaks in favour of improved corporate governance and wage policies. In the same context, he mentions the indirect counter-proposal from the Federal Council and parliament. Further information on this topic is provided in another interview with Christian Katz.