The CEOs of four of Canada's biggest banks received an average $11 million in compensation last year, despite most of them failing to meet performance targets.
The compensation for banks that have disclosed the data so far range from RBC chief executive Dave McKay receiving $15.2 million, to Scotiabank's Scott Thomson being paid $7.7 million.
McKay's pay was above the board's target of $14 million as bank performance exceeded expectations, a track record that has also led the board to bump up that target to $17 million for 2024.
CIBC chief executive Victor Dodig received $10.7 million in total compensation, about 2.7 per cent below target, and BMO chief executive Darryl White received $11.2 million, about 4.7 per cent below, as neither bank met performance goals.
Thomson, who took on the combined role of president and CEO as of Feb. 1 last year, had a target of $8.7 million based on his starting date, or $9.5 million on a full-year basis.
TD Bank Group has yet to release its proxy circular that discloses executive compensation.
This report by The Canadian Press was first published March 8, 2024
A $2.14-billion federal loan for an Ottawa-based satellite operator has Canadian politicians arguing about whether American billionaire Elon Musk poses a national security risk.
Specialist divers surveying the wreckage of the US$40 million superyacht that sank off Sicily in August, killing seven people including British tech tycoon Mike Lynch, have asked for heightened security to guard the vessel, over concerns that sensitive data locked in its safes may interest foreign governments, multiple sources told CNN.
Twenty-seven year Â鶹ӰÊÓ reporter and anchor John Vennavally-Rao shares his story of what it was like to have an ostomy bag as part of his health-care battle. 'I’m grateful for what it did to extend my life,' he writes in a personal column for CTVNews.ca.
The British Columbia election campaign is set to officially start today, with Lt.-Gov. Janet Austin issuing the writ for the Oct. 19 vote.
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Donald Trump returned to North Carolina on Saturday, stumping in the southern battleground state with direct appeals to women, claiming he would be a better champion for them than U.S. Vice President Kamala Harris, who is vying to become the first female president.
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The owner of the shuttered Three Mile Island nuclear power plant said Friday that it plans to restart the reactor under a 20-year agreement that calls for tech giant Microsoft to buy the power to supply its data centers with carbon-free energy.
Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut airport, the National News Agency reported, after thousands of such devices exploded during a deadly attack on Hezbollah this week.
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Jonathan Aranda homered for the second consecutive game, helping Taj Bradley and the Tampa Bay Rays beat the Toronto Blue Jays 3-2 on Saturday.
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The St. Clair College golf teams were successful at the Niagara Knights Invitational tournament on Friday.
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