It was a decisive vote: With 53 in favor, 2 against, and 2 abstentions, the Uri Landrat on Wednesday instructed the government to limit the compensation of the executive board members of Urner Kantonalbank (UKB).

The cantonal parliament follows the government’s recommendation to cap the fixed salary at a maximum of 395'000 francs per year. However, variable compensation of up to 30 percent is still possible, bringing the total possible annual compensation for the CEO of UKB to a maximum of 513'500 francs.

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According to the Urner Zeitung (subscription required), Eveline Lüönd of the Green Party called the debate absurd. She noted that for many people in Uri, such salary amounts are unimaginable, making a salary cap the right approach. Even some conservative politicians supported this measure.

The FDP, however, questioned whether it is the Landrat’s role to interfere in the private sector. «It is important to create the best possible conditions for recruiting top positions at the UKB,» said Ivo Schillig.

The test of this salary cap will come soon. The current UKB CEO, Christoph Bugnon, has announced his resignation for next year; this was reported by finews.com.