AGM Season 2022: Voting outcomes on compensation motions

Agnes Hoevenaars-Blust
Managing Director, PwC Switzerland

The top 100 Swiss listed companies in the spotlight: In this article, we share with you an overview of the AGM 2022 voting outcomes and the key proxy advisors’ voting recommendations on the compensation motions. We also summarise for you the key findings.

Each year during the AGM season, the dynamics of the Swiss corporate landscape and the vibrant nature of its market players become evident. Executive compensation is in the focus of investors, proxy advisors and the broader public. Over the last years, we observed an increasingly critical voting behaviour on the compensation motions.

Our downloadable overview provides information on the voting trends and highlights potential hot topics. Our goal is to provide you with valuable insights into the current Swiss market developments by updating this voting outcome overview on a regular basis.

Key findings

Out of the top 100 Swiss companies, 95 have been analysed by now. The latest key findings are the following:

  • Consultative vote on the compensation report
    Shareholders’ opposition remains high, with approval rates being on a similarly low level as in the previous year.
  • Binding votes on the compensation amounts
    Although shareholders continue to express their dissent with executive compensation mainly via the consultative vote on the compensation report, they keep raising concerns via the binding compensation motions as well.
  • Proxy advisors’ voting recommendations
    For all compensation motions, the support of the two Swiss-based proxy advisors Ethos and Inrate continues to be remarkably low.
The New Equation

Compensation Management & System

A compensation system aligned with your corporate strategy. Companies are all unique – and so are their compensation systems. We support your organisation every step along the way, from the strategic development of a compensation system to the actual rollout.

Learn more


Contact us

Agnes Hoevenaars-Blust

Agnes Hoevenaars-Blust

Managing Director, PwC Switzerland

Tel: +41 58 792 18 50

Roman Schneider

Roman Schneider

Compensation Consultant, People and Organisation, PwC Switzerland

Tel: +41 58 792 42 31