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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Sharon Hickin, general manager of the Days Inn Sylvan Lake and the new Lake House Diner, poses for a photo outside the new restaurant. Photo by Megan Roth/Sylvan Lake News
Pandemic puts extra hurdles in place for new Sylvan Lake businesses

Over the past seven months numerous new businesses have opened in Sylvan Lake, despite the pandemic

Sylvan Lake Wranglers. File Photo
Sylvan Lake Wranglers ready for shorten hockey season

The HJHL will have a 20 game season, playing four games in a cohort and then going dark for 14 days

Decorate your vehicle for display at the second annual Trunk or Treat on Oct. 31 . (Blakc Press File Photo)
Sylvan Lake church to host a socially distanced Trunk or Treat on Halloween

Goblins and ghouls can go around to vehicles for their tricks or treats at the Alliance Church

Front-line hospital workers have walked off the job at the Rimbey Hospital, and across the province. Photo Submitted
Front-line health care workers on strike across the province, including Rimbey Hospital

The strike is due to cut of 11,000 health care jobs in the province, according to AUPE

Royal Alexandra Hospital front-line workers walk a picket line after walking off the job in a wildcat strike in Edmonton, on Monday, October 26, 2020. THE CANADIAN PRESS/Jason Franson
Alberta labour board orders health-care staff who walked off the job to go back to work

Finance Minister Travis Toews said in a news release that he was pleased with the labour board’s decision

A racoon paid a visit to a Toronto Tim Hortons on Oct. 22, 2020. (shecallsmedrew/Twitter)
Who are you calling a trash panda? Racoon takes a shift at Toronto Tim Hortons

Tim Hortons said animal control was called as soon they saw the surprise visitor

file photo
Maskwacis RCMP investigate pedestrian fatality

Collision on Highway 2A causing fatality still under investigation.

Rachel Notley, leader of Alberta’s official Opposition, speaks in Edmonton on Wednesday, Oct. 16, 2019. Notley says the government needs to sharply ramp up the number of contact tracers if it wants to get a handle on the rising number of COVID-19 cases. THE CANADIAN PRESS/Jason Franson
Alberta Opposition calls for more COVID-19 contact tracers as case numbers rise

Alberta has about 800 tracers, and chief medical health officer Dr. Hinshaw says more are being recruited

Royal Alexandra Hospital front-line workers walk a picket line after walking off the job in a wildcat strike in Edmonton, on Monday, October 26, 2020. Hospital and health-care workers who staged a one-day illegal walkout returned to work Tuesday while politicians swapped recriminations and accusations in the house over the dispute. THE CANADIAN PRESS/Jason Franson
Alberta health staff return to work, surgeries resume after one-day walkout

AHS estimated 157 non-emergency surgeries, most of them in Edmonton, had to be postponed as a result of the walkout

Prime Minister Justin Trudeau makes his way to provide an update on the COVID pandemic in Ottawa on Tuesday, Oct. 27, 2020. Canada has reached a grim milestone in the COVID-19 pandemic, surpassing 10,000 novel coronavirus deaths. THE CANADIAN PRESS/Sean Kilpatrick
Alberta COVID deaths pushes Canada past milestone of 10,000 deaths

Canada crossed the threshold of 5,000 deaths on May 12, a little over two months after the first was reported

Cases in Ponoka (East Ponoka County) as of Oct. 27. (alberta.ca)
Diagnosed cases of COVID-19 at three Ponoka businesses

Town ‘strongly encouraging’ residents to wear non-medical masks in public

Prime Minister Justin Trudeau provides an update on the COVID pandemic during a press conference in Ottawa on Tuesday, Oct. 27, 2020. THE CANADIAN PRESS/Sean Kilpatrick
Trudeau says pandemic ‘really sucks,’ and that Christmas gatherings are up in the air

The prime minister encouraged residents to continue to follow the advice of local health authorities

The Williams Lake Indian Band is stipulating no-go zones for mushroom picking in areas burned by last summer’s wildfires. 100 Mile Free Press photo
Who controls mushroom harvesting on Indigenous lands?

‘We don’t necessarily know where the mushrooms grow, how old the stands need to be, those types of things.’

Most Read