Bombardier must respond to public outcry over executive pay increases: Anglade
MONTREAL — Senior Quebec Liberal ministers are asking Bombardier to review its executive compensation policy.
They were questioned again today about news that the airline giant that receives hundreds of millions of dollars in taxpayer subsidies had dramatically increased pay to top executives.
Economy Minister Dominique Anglade says she expects a response from the company that is commensurate with the shock its decision created among citizens and elected officials.
Total compensation for the Montreal-based manufacturer’s top five executives and board chairman Pierre Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before.
The Quebec government gave Bombardier (TSX:BBD.B) roughly US$1 billion in 2016 while the federal government recently announced a $372.5-million loan package for the firm’s CSeries and Global 7000 aircraft programs.
Finance Minister Carlos Leitao says he invites the company to review the way it pays its top brass.
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