1 Min Read
ZURICH, April 27 (Reuters) - Shareholders in GAM Holding on Thursday blocked the Swiss asset manager's plan to pay up to 16 million Swiss francs ($16.1 million) in bonuses to the company's executive management team.
In a binding vote at the Zurich-based money manager's annual general meeting, 64.83 percent of shareholders voted against the proposed bonuses.
Shareholders in Switzerland were given veto power over executive and board compensation following a referendum on the issue in 2013.
$1 = 0.9935 Swiss francs Reporting by Joshua Franklin, edited by John Revill