Or the talented executives will just leave the country and go where they can earn more.The whack-a-mole game is undoubtedly true. About the most talented execs leaving, this may be true, and it is certainly what well-compensated execs will argue.
Also possible is that it will be primarily the most self-serving execs, rather than the most talented, that will leave. It would be a delightful irony if Swiss companies began performing better after an exodus of executives. And we should remember that there is no limit on executive pay, specifically.