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

Nelson Skating Club to host West Kootenay Invitational Competition

The event will include skaters from around the Kootenays

COLUMN: Getting on the bus, figuratively and literally

Anne DeGrace on efforts to improve transit in Nelson

COLUMN: Another week that Martin Scorsese would appreciate

From the Civic Theatre’s Jason Asbell

Government needs to step up to address $10M RCMP budget deficit: Morrison

Kootenay-Columbia MP Rob Morrison says governments need to ensure rural communities are protected

VIDEO: Marking Métis Week with a wild meat lunch

Nelson students were served food as part of an event centred on Métis culture

Canucks erupt with 5 power-play goals in win over Nashville

Vancouver ends three-game slide with 6-3 triumph over Predators

65-million-year-old triceratops makes its debut in Victoria

Dino Lab Inc. is excavating the fossilized remains of a 65-million-year-old dinosaur

B.C. widow suing health authority after ‘untreatable’ superbug killed her husband

New Public Agency Health report puts Canadian death toll at 5,400 in 2018

Changes to B.C. building code address secondary suites, energy efficiency

Housing Minister Selina Robinson says the changes will help create more affordable housing

Security guard at Kamloops music festival gets three years for sexually assaulting concertgoer

Shawn Christopher Gray walked the woman home after she became seperated from her friends, court heard

Most Read