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1. Gerry Schwartz: $64-million Onex Corp. deal maker Gerry Schwartz earned far more from his investments in Onex private equity deals than he did from his company compensation last year. While his base salary and bonus totalled $14.3-million (U.S.), Mr. Schwartz also reaped $20.8-million in returns last year from Onex investments that he has personally co-invested in, and he earned $26.2-million in “carried interest” from profits generated by buyout funds Onex runs. He earned a further $2.5-million in dividends on his Onex shares, bringing his total 2011 Onex earnings to $64-million.
(Nathan Denette/THE CANADIAN PRESS)
2. Frank Stronach: $41-million (U.S.) Magna International founder Frank Stronach continues to earn large compensation from his auto parts company even after giving up voting control in 2010. The Magna director and honorary chairman earned $41-million (U.S.) last year, most of it in the form of profit sharing and consulting fees. That amount included $413,500 in the form of personal use of a corporate aircraft. As part of Magna’s controversial share buy out deal with Mr. Stronach, his consulting and business service contract will expire at the end of 2014.
(Fred Lum/The Globe and Mail)
3. Miles Nadal: $24-million (U.S.) Advertising industry executive Miles Nadal took home $23.8-million (U.S.) last year, an almost 300 per cent increase over 2010, even though his MDC Partners Inc. lost money and saw its stock fall 19 per cent. The pay package was especially large considering MDC, which owns stakes in advertising agencies in Canada and the U.S., is relatively small. Its $300-million market value was too low for MDS to be included on the list of Canada’s 100 largest companies for this year’s compensation chart. Board members said most of Mr. Nadal’s compensation last year was in the form of restricted stock awards that only pay out if the company meets performance hurdles, so the money could be lost if MDC doesn’t do well.
(Neville Elder/The Globe and Mail)
4. Jim and JR Shaw: $27-million and $16-million Outgoing Shaw Communications chief executive Jim Shaw earned $26.7-million in fiscal 2011, almost all of it from a special $25-million “package” the company said he received upon his retirement in November, 2010, at age 53. That amount does not include his promised $6-million annual pension. His father, company founder and executive chairman JR Shaw, earned $16-million last year, including an almost $9-million bonus under a contract that awards him a percentage of the company’s operating income.
(Jeff McIntosh/The Canadian Press)
5. Edward Sampson: $11-million (U.S.) Often a top-earner in past years, Niko Resources Ltd. CEO Edward Sampson continued to reap big gains in 2011, earning a salary and stock options worth $10.9-million (U.S.) for its fiscal year ended March 31, 2011. But Niko also announced its board of directors decided last summer to cut the number of stock options held by its executive officers. The company offered no reason for the decision, but the move came a month after Niko pleaded guilty under the Corruption of Foreign Public Officials Act to bribing a Bangladeshi official in 2005 and paid penalties totalling $9.5-million (Canadian). In July Mr. Sampson forfeited 437,500 of his 1.44 million options, while other executives forfeited an additional 131,250 options.
(Jeff McIntosh/The Globe and Mail)