Telecom company Rogers doled out nearly $40-million on its two CEOs in 2013

TORONTO — The Canadian Press (includes correction)

Rogers CEO Guy Laurence. (Alfons Lenders/The Canadian Press)

Rogers Communications Inc. doled out nearly $40-million last year paying the two executives who held the top position at the telecom company.

Guy Laurence, who only stepped into the CEO role on Dec. 2, made a total of $12.7-million in 2013, according to figures disclosed in Rogers’ annual report.

Retired CEO Nadir Mohamed took home total compensation of $26.8-million last year, the bulk of it coming from his retirement package.

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Laurence, who was the former head of U.K.-based telecom company Vodafone, received a base salary of $69,231 for the year.

He was also given $6.81-million in share-based awards, $5.01-million in option-based awards and other compensation worth $755,833. The value of his pension earned was $54,933 in 2013.

Mohamed, who retired in December, had a base salary of $1.13-million, $2.52-million in share-based awards, $2.52-million in option-based awards. All other compensation was $17,242 million, related to his retirement.

The value of his pension earned was $1.85-million in 2013.

Editor's note: A previous version of this story misspelled Guy Laurence’s name and Vodafone.