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The Boston Globe

Business

Swiss reject measure to curb executive pay

FRANKFURT — Swiss voters rejected severe limits on executive pay Sunday in balloting that nonetheless illustrated rising popular resentment of corporate excess in one of Europe’s most business-friendly countries.

The measure, known as the 1:12 initiative because it would have barred executives from earning more than 12 times as much as the lowest-paid employees at their companies, was rejected decisively by 65 percent of voters, according to estimates Sunday by Gfs.bern, a Swiss polling firm.

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