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

Fire in Kelowna apartment started in garbage can

The apartment was evacuated for a 4th-floor fire

Crane removal from downtown Kelowna to close streets

What goes up must come down and Ellis Street will be affected

Suspect restrained by bystanders after unprovoked assaults in West Kelowna

A 33-year-old Ontario man faces a number of potential charges

Car crashes into Kelowna business

Damages were done to the storefront of Interstate Batteries All Battery Centre on Banks Road

Keep the ‘Wild’ in Wildlife: RDCO

RDCO reminds park-goers that bears are more prevalent in parks at this time of year

Madchild brings demons of drug abuse to Okanagan

Swollen Members rapper takes Status stage

Civil claim filed over motocross track west of Summerland

Track was constructed on agricultural land around 2016

BC SPCA overwhelmed with cats, kittens needing homes

Large number of cruelty investigations, plus normal ‘kitten season’ to blame

Car catches fire while being towed by motor home on Hwy. 97

The incident occured just north of Sage Mesa Rd., no injuries have been reported

B.C. Hydro applies for rare cut in electricity rates next year

Province wrote off $1.1 billion debt to help reverse rate increase

Repair work to begin on lakeshore paths in Summerland

Paths were damaged during spring flooding in 2017 and 2018

North Okanagan adventure park concerns

LETTER: Neighbour to proposed adventure park in Spallumcheen offers up his concerns on project

One sent to hospital following Balmoral Road/Highway 1 collision

Violation ticket issued in second crash at Balmoral intersection in two weeks

Most Read