CapLaw-2015-4

On 28 November 2014 the Federal Council presented a preliminary draft (Vorentwurf) of the corporate law reform and started the consultation procedure which runs until 15 March 2015. The main proposals are: Implementation of the Ordinance against Excessive Compensation in Public Companies into the Code of Obligations (with tighter rules on certain points, e.g. a prohibition of prospective say-on-pay votes and of compensation for non-compete covenants over 12 months). A target gender quota of 30% for the board of directors and the executive committee of listed companies based on a comply or explain approach. A duty for major companies in…