Air Canada shareholders to voice opinion on executive compensation Monday
Posted Jun 4, 2012 04:16:54 AM.
This article is more than 5 years old.
CALGARY – Air Canada shareholders will get to voice their opinion today on the compensation the airline’s executives take home.
The opportunity comes at Air Canada’s annual general meeting in Calgary.
The resolution on executive pay, however, is non-binding, meaning shareholders can’t overrule the board of directors when it comes to compensation.
The board approved the so-called “say on pay” policy in April and this year’s AGM will be the first time it comes into play.
Although it’s not binding, Air Canada (TSX:AC.B) says the board will review the results and take them into account “when reviewing, in the future, executive compensation philosophy.”
The compensation package for Air Canada’s CEO fell 12 per cent last year, while the payouts of the airline’s four other top executives soared even though continued losses drove its share price down more than 70 per cent.
