Bombardier executive pay falls four per cent; CEO unchanged at US$10.6 million

The company will have it annual meeting May 2

Bombardier’s chief executive Alain Bellemare speaks to the media after the company’s annual meeting Thursday, May 11, 2017 in Montreal. Total compensation for Bombardier’s top five executives fell four per cent last year to US$29.5 million, according to a proxy circular released ahead of the company’s May 2 annual meeting. (THE CANADIAN PRESS/Ryan Remiorz)

Total compensation for Bombardier’s top five executives fell four per cent last year to US$29.5 million, according to a proxy circular released ahead of the company’s May 2 annual meeting.

The decrease came despite a good financial year that saw the transportation giant post its first annual profit in five years.

CEO Alain Bellemare’s total pay remained unchanged at US$10.63 million. He earned a salary of US$1.1 million and received a cash bonus of US$2.8 million, down from US$3.2 million in 2017. Share-based and option-based awards each rose by US$704,700 or 34 per cent, to US$2.78 million. Other compensation decreased by about US$1 million.

Three of the four other senior executives saw their total compensation increase slightly, while former transportation president Laurent Troger’s compensation decreased 30 per cent to US$3.6 million with the elimination of a US$1.5-million bonus paid in 2017.

READ MORE: Southwest is losing millions weekly in labour fight: CEO

Chairman Pierre Beaudoin received almost US$800,000, including US$500,000 in fees that were unchanged from the prior year.

The 2018 compensation report came two years after the company made headlines when it boosted executive pay by nearly 50 per cent while laying off thousands of workers and receiving hundreds of millions of dollars in taxpayer subsidies.

The resulting public outcry led Bellemare to ask the board of directors to delay some of the planned payments until 2020.

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

PHOTOS: Staycation Stampede Style

Ponoka FCSS hosted its annual Stampede staycation event on June 18

Contact Maskwacis RCMP about missing Antoine Mackinaw

Maskwacis RCMP seeking public assistance in locating male

AMBER ALERT: Alert cancelled after child located safe and unharmed

Alert cancelled after child located safe and unharmed

VIDEO: ‘Avengers: Endgame’ to be re-released with new footage

‘Avatar’ holds global box office record at $2.788 billion, while ‘Endgame’ stands at $2.743 billion…

More than 700 wildlfire evacuees in Alberta can soon return to Metis community

Evacuees from the Paddle Prairie Metis Settlement can safely return starting on Thursday

B.C. files second legal challenge against Alberta over turn-off-taps law

B.C. government filed a second lawsuit against Alberta on June 14

Tax credits, penalizing big polluters, key to Conservative climate plan

Canada’s commitment is to cut emissions to 70 per cent of what they were in 2005 before 2030

VIDEO: Acknowledging skeptics, finance minister vows to build Trans Mountain project

Bill Morneau said he recognizes ‘huge amount of anxiety’ in Calgary over future of oil and gas sector

Shovels could be in the ground on Trans Mountain by September, CEO says

Ian Anderson points to weeks likely required for NEB to reinstate 2016 regulatory record

Calgary man facing charges after B.C. police service dog aids in arrest

Heavy police presence results in PSD Jagger finding suspect

RCMP allows officers to grow beards

Members can now wear beards and goatees, as long as they’re neatly groomed

Wildfires have forced more than 9,000 people from homes in northern Alberta

People in other communities remain on evacuation alert and could be told to leave quickly

Most Read