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This is a ranking of compensation in fiscal 2018 for the chief executive officers from the 100 largest public companies (by market capitalization) in Canada’s benchmark S&P/TSX composite index as of Dec. 31, 2018.
Are increasingly stock-rich CEO compensation packages worth it for shareholders?
Prepared by Global Governance Advisors, the information comes from management information circulars filed for fiscal year 2018.
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| Rank | Name | Organization Name | Ticker | Base Salary | Bonus | Sub-Total | % Change | All Other Compensation | Share-Based Awards | Option-Based Awards | Pension Value | Total Reported Compensation | % Change | Unexercised In-the-Money Options | Unvested Share-Based Awards | Value of CEO's Equity | Accrued CEO Pension Obligation |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | John Chen | BlackBerry Limited | BB-T | $1,308,100 | $2,964,416 | $4,272,516 | 11% | $17,986 | $139,051,030 | $0 | $0 | $143,341,533 | 3593% | $0 | $114,570,300 | $75,644,915 | $0 |
| 2 | Donald Walker | Magna International Inc. | MG-T | $421,315 | $10,016,920 | $10,438,234 | -3% | $156,859 | $9,255,960 | $6,170,640 | $0 | $26,021,694 | -2% | $8,908,595 | $20,570,259 | $123,130,969 | $0 |
| 3 | Daniel Schwartz | Restaurant Brands International Inc. | QSR-T | $1,037,082 | $2,017,526 | $3,054,608 | -7% | $112,905 | $21,181,725 | $0 | $0 | $24,349,238 | 352% | $54,350,799 | $26,923,085 | $74,680,967 | $0 |
| 4 | Joseph Papa | Bausch Health Companies Inc. | BHC-T | $1,944,530 | $4,929,382 | $6,873,912 | 18% | $121,738 | $9,521,618 | $2,592,337 | $0 | $19,109,604 | 201% | $1,452,773 | $9,755,637 | $20,870,319 | $0 |
| 5 | James Smith | Thomson Reuters Corporation | TRI-T | $2,074,165 | $5,366,279 | $7,440,444 | 25% | $48,705 | $5,703,973 | $5,703,957 | -$119,264 | $18,777,815 | 0% | $54,610,883 | $23,319,428 | $55,720,535 | $18,259,209 |
| 6 | Ronald Mittelstaedt | Waste Connections, Inc. | WCN-T | $1,227,177 | $1,853,785 | $3,080,962 | -25% | $59,466 | $14,609,604 | $0 | $0 | $17,750,032 | 151% | $0 | $21,825,222 | $28,010,320 | $0 |
| 7 | Charles Magro | Nutrien Ltd. | NTR-T | $1,600,807 | $4,415,024 | $6,015,831 | 20% | $50,009 | $4,971,354 | $4,971,371 | $701,236 | $16,709,802 | 40% | $11,028,554 | $12,459,367 | $9,531,458 | $6,003,585 |
| 8 | John Thornton | Barrick Gold Corporation | ABX-T | $3,240,883 | $12,619,996 | $15,860,879 | 79% | $324,080 | $0 | $0 | $486,132 | $16,671,092 | 67% | $0 | $0 | $92,381,480 | $0 |
| 9 | Doug Suttles | Encana Corporation | ECA-T | $1,425,988 | $2,967,838 | $4,393,826 | 3% | $384,793 | $8,065,610 | $2,688,535 | $0 | $15,532,764 | -2% | $4,467,005 | $20,672,463 | $1,823,740 | $0 |
| 10 | Bharat Masrani | The Toronto-Dominion Bank | TD-T | $1,334,988 | $2,079,000 | $3,413,988 | 9% | $89,220 | $5,571,720 | $4,644,337 | $1,596,800 | $15,316,065 | 23% | $20,603,059 | $15,072,961 | $75,688,453 | $16,845,500 |
| 11 | Steven Williams # | Suncor Energy Inc. | SU-T | $1,465,577 | $3,061,000 | $4,526,577 | -2% | $162,396 | $5,065,942 | $4,933,692 | $100,800 | $14,789,407 | 0% | $11,792,850 | $9,542,470 | $29,280,640 | $22,315,655 |
| 12 | David McKay | Royal Bank of Canada | RY-T | $1,500,000 | $3,175,300 | $4,675,300 | 3% | $44,877 | $7,095,040 | $1,773,760 | $901,000 | $14,489,977 | 8% | $19,400,683 | $21,328,514 | $26,275,167 | $13,670,000 |
| 13 | Alain Bellemare | Bombardier Inc. | BBD-B-T | $1,447,767 | $3,667,253 | $5,115,020 | -8% | $1,434,933 | $3,602,435 | $3,602,435 | $26,575 | $13,781,399 | 0% | $808,731 | $9,384,447 | $1,803,821 | $0 |
| 14 | Brian Porter | The Bank of Nova Scotia | BNS-T | $1,200,000 | $2,500,000 | $3,700,000 | 2% | $2,990 | $6,000,000 | $1,500,000 | $2,048,000 | $13,250,990 | 3% | $3,017,953 | $17,964,380 | $27,883,647 | $14,112,000 |
| 15 | Roy Gori | Manulife Financial Corporation | MFC-T | $1,423,033 | $4,097,602 | $5,520,635 | * | $260,673 | $4,592,515 | $1,968,221 | $644,300 | $12,986,344 | * | $776,616 | $9,111,589 | $20,518,384 | $0 |
| 16 | R. Jeffrey Orr | Power Financial Corporation | PWF-T | $4,661,000 | $0 | $4,661,000 | 2% | $480,952 | $2,761,870 | $2,546,250 | $2,150,000 | $12,600,072 | 2% | $454,727 | $6,299,214 | $28,395,486 | $36,669,000 |
| 17 | Darren Entwistle | TELUS Corporation | T-T | $1,375,000 | $669,798 | $2,044,798 | 1% | $131,883 | $9,644,535 | $0 | $742,000 | $12,563,216 | 3% | $0 | $19,564,516 | $27,863,638 | $18,329,000 |
| 18 | Russell Girling | TC Energy Corporation | TRP-T | $1,362,508 | $2,406,264 | $3,768,772 | 19% | $13,625 | $3,800,000 | $3,800,000 | $1,120,000 | $12,502,397 | 25% | $3,421,487 | $2,967,242 | $14,845,028 | $20,129,000 |
| 19 | Keith Creel | Canadian Pacific Railway Limited | CP-T | $1,453,595 | $3,148,551 | $4,602,146 | 19% | $543,332 | $4,369,757 | $2,519,163 | $452,209 | $12,486,607 | -38% | $31,499,964 | $9,965,649 | $9,426,268 | $0 |
| 20 | Al Monaco | Enbridge Inc. | ENB-T | $1,404,278 | $3,296,965 | $4,701,244 | 7% | $65,028 | $4,214,276 | $2,636,323 | $737,625 | $12,354,496 | -24% | $6,742,641 | $9,358,666 | $37,567,012 | $19,924,966 |
| 21 | Sean Boyd | Agnico Eagle Mines Limited | AEM-T | $1,751,600 | $4,183,821 | $5,935,421 | 4% | $25,537 | $5,818,315 | $0 | $549,402 | $12,328,675 | -2% | $1,351,468 | $10,581,735 | $18,075,790 | $17,691,202 |
| 22 | George Cope | BCE Inc. | BCE-T | $1,400,000 | $2,814,000 | $4,214,000 | -11% | $168,602 | $5,156,250 | $1,718,750 | $756,840 | $12,014,442 | 5% | $0 | $9,600,734 | $77,254,034 | $0 |
| 23 | Stephen Wetmore | Canadian Tire Corporation, Limited | CTC-A-T | $1,500,000 | $1,063,762 | $2,563,762 | -24% | $361,181 | $8,999,545 | $0 | $0 | $11,924,488 | 56% | $0 | $13,891,594 | $9,661,554 | $0 |
| 24 | Calin Rovinescu | Air Canada | AC-T | $1,400,000 | $3,524,850 | $4,924,850 | 8% | $0 | $2,800,000 | $2,800,000 | $1,027,000 | $11,551,850 | 28% | $49,590,363 | $5,014,044 | $19,403,282 | $12,473,100 |
| 25 | Joe Natale | Rogers Communications Inc. | RCI-T | $1,270,865 | $1,963,487 | $3,234,352 | * | $130,853 | $3,750,158 | $3,750,013 | $684,217 | $11,549,593 | * | $8,557,381 | $9,631,816 | $5,261,873 | $2,853,669 |
| 26 | Tobias Lütke | Shopify Inc. | SHOP-T | $760,181 | $0 | $760,181 | -8% | $0 | $5,185,536 | $5,186,042 | $0 | $11,131,760 | 4% | $82,667,426 | $10,661,595 | $2,442,464,657 | $0 |
| 27 | Donald Lindsay | Teck Resources Limited | TECK-B-T | $1,607,500 | $2,466,300 | $4,073,800 | 3% | $0 | $2,967,500 | $2,973,500 | $695,000 | $10,709,800 | 0% | $34,499,680 | $5,296,607 | $37,437,310 | $9,463,000 |
| 28 | Glenn Chamandy | Gildan Activewear Inc. | GIL-T | $1,555,624 | $2,333,435 | $3,889,059 | -6% | $144,655 | $6,222,481 | $0 | $73,024 | $10,329,219 | -3% | $8,991,259 | $12,986,079 | $142,585,761 | $0 |
| 29 | Darryl White (1) | Bank of Montreal | BMO-T | $1,000,000 | $1,980,000 | $2,980,000 | * | $3,000 | $4,506,250 | $1,158,750 | $1,476,234 | $10,124,234 | * | $2,640,018 | $14,581,313 | $5,665,000 | $1,414,728 |
| 30 | Victor Dodig | Canadian Imperial Bank of Commerce | CM-T | $1,000,000 | $2,131,524 | $3,131,524 | -7% | $2,250 | $5,115,661 | $1,278,915 | $520,000 | $10,048,350 | 6% | $2,061,712 | $10,978,985 | $19,523,342 | $6,439,000 |
| 31 | Dean Connor | Sun Life Financial Inc. | SLF-T | $1,100,000 | $2,200,000 | $3,300,000 | 0% | $11,997 | $4,500,028 | $1,500,001 | $400,833 | $9,712,859 | 6% | $18,667,678 | $12,718,166 | $23,138,284 | $6,258,000 |
| 32 | Mark Barrenechea | Open Text Corporation | OTEX-T | $1,231,535 | $1,570,208 | $2,801,743 | -26% | $48,174 | $4,587,745 | $1,824,689 | $0 | $9,262,351 | -41% | $24,661,014 | $20,734,488 | $32,627,716 | $0 |
| 33 | Barry Perry | Fortis Inc. | FTS-T | $1,300,000 | $1,713,000 | $3,013,000 | -17% | $406,730 | $3,900,000 | $1,300,000 | $460,750 | $9,080,480 | -2% | $7,652,843 | $8,278,042 | $16,842,876 | $0 |
| 34 | Louis Vachon | National Bank of Canada | NA-T | $1,125,015 | $1,890,000 | $3,015,015 | -15% | $4,768 | $3,375,000 | $1,687,503 | $788,000 | $8,870,286 | -5% | $50,019,913 | $12,840,803 | $18,615,265 | $17,118,000 |
| 35 | John Floren | Methanex Corporation | MX-T | $1,148,750 | $2,770,000 | $3,918,750 | 80% | $319,122 | $2,177,130 | $2,159,404 | $277,997 | $8,852,403 | 27% | $1,206,871 | $1,069,362 | $7,776,371 | $0 |
| 36 | Brian Hannasch | Alimentation Couche-Tard Inc. | ATD-B-T | $1,748,260 | $1,704,553 | $3,452,813 | -6% | $0 | $3,205,878 | $1,386,906 | $723,294 | $8,768,891 | -12% | $31,410,182 | $3,109,804 | $17,779,946 | $10,883,153 |
| 37 | George Schindler | CGI Inc. | GIB-A-T | $1,210,938 | $1,947,121 | $3,158,059 | 26% | $100,950 | $2,797,802 | $2,508,117 | $3,209 | $8,568,137 | 17% | $41,313,097 | $3,477,970 | $8,720,907 | $0 |
| 38 | Rafael Ashkenazi | The Stars Group Inc. | TSGI-T | $1,288,167 | $3,858,921 | $5,147,088 | 90% | $187,737 | $3,226,291 | $0 | $0 | $8,561,115 | 73% | $712,501 | $3,541,034 | $6,318,760 | $0 |
| 39 | Charles Brindamour | Intact Financial Corporation | IFC-T | $1,229,423 | $1,584,009 | $2,813,432 | 0% | $0 | $5,227,500 | $0 | $475,910 | $8,516,842 | 9% | $0 | $12,216,836 | $27,144,317 | $10,953,464 |
| 40 | Jean-Jacques Ruest (1) | Canadian National Railway Company | CNR-T | $873,383 | $1,577,598 | $2,450,981 | * | $24,034 | $2,508,845 | $2,052,555 | $1,449,000 | $8,485,415 | * | $7,318,447 | $6,000,158 | $29,796,611 | $11,641,000 |
| 41 | J. Paul Rollinson | Kinross Gold Corporation | K-T | $1,330,317 | $1,903,685 | $3,234,003 | -16% | $291,218 | $3,086,338 | $771,584 | $598,643 | $7,981,785 | -16% | $588,143 | $8,300,868 | $15,331,870 | $0 |
| 42 | Robert Peabody | Husky Energy Inc. | HSE-T | $1,528,750 | $1,738,000 | $3,266,750 | -5% | $171,132 | $3,431,528 | $846,703 | $168,163 | $7,884,276 | 14% | $0 | $8,231,012 | $2,245,008 | $0 |
| 43 | Rich Kruger (2) | Imperial Oil Limited | IMO-T | $1,164,834 | $561,038 | $1,725,872 | -23% | $2,799,146 | $4,599,416 | $0 | -$1,254,381 | $7,870,053 | 15% | $0 | $18,879,222 | $19,463,228 | $17,157,500 |
| 44 | André Desmarais (3) | Power Corporation of Canada | POW-T | $1,225,000 | $1,500,000 | $2,725,000 | 198% | $642,638 | $277,513 | $4,451,260 | -$336,000 | $7,760,411 | 75% | $2,187,640 | $0 | $465,338,429 | $28,253,000 |
| 45 | Bradley Shaw | Shaw Communications Inc. | SJR-B-T | $2,000,000 | $3,896,200 | $5,896,200 | -22% | $751,223 | $974,050 | $133,200 | -$180,500 | $7,574,173 | -37% | $2,181,000 | $3,218,644 | $231,804,741 | $94,817,000 |
| 46 | Jeffrey Carney | IGM Financial Inc. | IGM-T | $1,254,667 | $2,843,485 | $4,098,152 | 1% | $134,845 | $1,132,500 | $1,575,765 | $320,100 | $7,261,362 | 25% | $0 | $2,881,866 | $4,348,091 | $0 |
| 47 | Tim McKay (1) | Canadian Natural Resources Limited | CNQ-T | $583,334 | $4,319,179 | $4,902,513 | * | $78,820 | $0 | $2,236,875 | $0 | $7,218,208 | * | $1,782,500 | $4,508,794 | $49,031,619 | $0 |
| 48 | Michael Dilger | Pembina Pipeline Corporation | PPL-T | $1,029,167 | $1,944,600 | $2,973,767 | 16% | $69,303 | $2,205,000 | $1,470,000 | $413,133 | $7,131,203 | 23% | $1,454,265 | $3,593,885 | $7,979,974 | $3,170,505 |
| 49 | Paul Mahon | Great-West Lifeco Inc. | GWO-T | $1,223,400 | $1,770,000 | $2,993,400 | -2% | $215,486 | $3,064,881 | $911,934 | -$69,286 | $7,116,415 | -9% | $592,254 | $2,939,404 | $11,675,848 | $27,719,402 |
| 50 | Marc Parent | CAE Inc. | CAE-T | $961,200 | $1,695,370 | $2,656,570 | -3% | $175,114 | $2,370,416 | $1,126,080 | $596,000 | $6,924,180 | 7% | $9,455,476 | $11,443,999 | $13,159,429 | $9,095,000 |
| 51 | Tim Gitzel | Cameco Corporation | CCO-T | $1,025,000 | $1,784,000 | $2,809,000 | 21% | $0 | $2,183,062 | $1,455,454 | $318,300 | $6,765,816 | 8% | $2,304,718 | $0 | $9,936,689 | $5,554,200 |
| 52 | Edward Sonshine | RioCan Real Estate Investment Trust | REI-UN-T | $1,300,000 | $1,806,961 | $3,106,961 | 0% | $1,000,000 | $2,600,000 | $0 | $0 | $6,706,961 | 17% | $3,500 | $6,854,471 | $15,974,917 | $6,258,100 |
| 53 | Eric La Flèche | Metro Inc. | MRU-T | $932,212 | $1,025,733 | $1,957,945 | 9% | $5,387 | $1,491,638 | $899,758 | $2,226,000 | $6,580,728 | 87% | $12,174,182 | $3,027,563 | $12,234,833 | $9,475,000 |
| 54 | Alexander Pourbaix | Cenovus Energy Inc. | CVE-T | $1,000,000 | $880,000 | $1,880,000 | * | $95,825 | $2,249,993 | $2,250,000 | $82,667 | $6,558,485 | * | $118,421 | $3,866,851 | $9,244,694 | $0 |
| 55 | Alexandre L'Heureux | WSP Global Inc. | WSP-T | $1,100,000 | $2,126,300 | $3,226,300 | 6% | $291,000 | $2,419,935 | $604,995 | $0 | $6,542,230 | 6% | $3,540,727 | $4,316,821 | $15,157,659 | $0 |
| 56 | Ravi Saligram | Ritchie Bros. Auctioneers Incorporated | RBA-T | $1,296,353 | $1,475,742 | $2,772,095 | 41% | $224,753 | $1,779,141 | $1,759,561 | $0 | $6,535,549 | 22% | $10,098,460 | $13,857,135 | $9,662,618 | $0 |
| 57 | J. Bruce Flatt | Brookfield Asset Management Inc. | BAM-A-T | $972,265 | $0 | $972,265 | 0% | $48,613 | $5,357,568 | $0 | $0 | $6,378,446 | -28% | $0 | $73,688,525 | $2,745,558,354 | $0 |
| 58 | Anthony Marino | Vermilion Energy Inc. | VET-T | $668,221 | $500,000 | $1,168,221 | 162% | $77,534 | $4,999,880 | $0 | $0 | $6,245,635 | 51% | $0 | $10,122,253 | $9,539,426 | $0 |
| 59 | Scott Balfour (1) | Emera Incorporated | EMA-T | $986,673 | $1,668,000 | $2,654,673 | * | $35,993 | $2,100,156 | $699,846 | $634,000 | $6,124,668 | * | $2,348,002 | $2,912,245 | $4,446,618 | $2,467,000 |
| 60 | Phillip Pascall | First Quantum Minerals Ltd. | FM-T | $1,555,624 | $1,296,353 | $2,851,977 | 19% | $3,373 | $1,555,624 | $1,555,624 | $0 | $5,966,597 | 19% | $0 | $3,537,282 | $63,730,884 | $0 |
| 61 | L. Scott Thomson | Finning International Inc. | FTT-T | $973,350 | $894,697 | $1,868,047 | -7% | $72,600 | $3,000,000 | $750,000 | $228,042 | $5,918,689 | -3% | $649,958 | $5,859,364 | $6,446,964 | $0 |
| 62 | Randy Smallwood | Wheaton Precious Metals Corp. | WPM-T | $971,132 | $2,375,567 | $3,346,699 | 48% | $0 | $1,748,118 | $595,408 | $0 | $5,690,225 | 21% | $1,320,190 | $6,183,536 | $11,846,698 | $0 |
| 63 | Michael Medline | Empire Company Limited | EMP-A-T | $900,003 | $1,620,000 | $2,520,003 | * | $2,779 | $1,850,000 | $900,000 | $263,000 | $5,535,782 | * | $2,247,427 | $4,815,250 | $1,195,478 | $278,000 |
| 64 | Neil Bruce | SNC-Lavalin Group Inc. | SNC-T | $1,158,654 | $0 | $1,158,654 | -55% | $270,188 | $4,019,395 | $0 | $0 | $5,448,237 | -13% | $454,480 | $7,566,376 | $4,922,459 | $0 |
| 65 | Paul Desmarais, Jr. (3) | Power Corporation of Canada | POW-T | $1,225,000 | $1,500,000 | $2,725,000 | 1% | $507,249 | $278,125 | $2,451,260 | -$732,000 | $5,229,634 | -21% | $2,187,640 | $0 | $463,813,007 | $27,803,000 |
| 66 | Mayo Schmidt # | Hydro One Limited | HSE-T | $636,924 | $700,616 | $1,337,540 | * | $420,769 | $3,104,991 | $0 | $77,538 | $4,940,838 | * | $0 | $6,197,437 | * | $0 |
| 67 | Geoffrey Martin | CCL Industries Inc. | CCL-B-T | $1,484,656 | $1,032,608 | $2,517,264 | -46% | $0 | $0 | $2,048,200 | $374,580 | $4,940,044 | -30% | $2,194,238 | $12,515,000 | $33,704,909 | $0 |
| 68 | Sachin Shah | Brookfield Renewable Partners L.P. | BEP-UN-T | $570,214 | $0 | $570,214 | -37% | $32,978 | $4,290,747 | $0 | $0 | $4,893,939 | -20% | $0 | $12,070,734 | * | $0 |
| 69 | Ted Seraphim | West Fraser Timber Co. Ltd. | WFT-T | $820,095 | $1,044,250 | $1,864,345 | 3% | $0 | $978,275 | $977,640 | $832,700 | $4,652,960 | 7% | $4,603,998 | $3,017,375 | $3,895,849 | $9,194,000 |
| 70 | Ian Robertson | Algonquin Power & Utilities Corp. | AQN-T | $920,000 | $1,113,149 | $2,033,149 | 21% | $43,512 | $1,623,000 | $540,500 | $192,662 | $4,432,823 | 13% | $5,196,317 | $2,905,955 | $24,430,994 | $0 |
| 71 | Anthony Makuch | Kirkland Lake Gold Ltd. | KL-T | $910,000 | $1,730,820 | $2,640,820 | 12% | $65,555 | $1,619,998 | $0 | $26,500 | $4,352,873 | 17% | $0 | $9,675,438 | $16,468,098 | $0 |
| 72 | Dani Reiss | Canada Goose Holdings Inc. | GOOS-T | $1,019,231 | $2,316,420 | $3,335,651 | 35% | $0 | $0 | $986,314 | $0 | $4,321,965 | 73% | $1,303,156 | $0 | $997,148,699 | $0 |
| 73 | Andrew Phillips | PrairieSky Royalty Ltd. | PSK-T | $550,000 | $925,000 | $1,475,000 | 0% | $0 | $2,062,500 | $687,500 | $66,000 | $4,291,000 | 7% | $0 | $3,111,100 | $11,381,700 | $0 |
| 74 | Thomas Hofstedter | H&R Real Estate Investment Trust | HR-UN-T | $1,200,000 | $1,341,000 | $2,541,000 | 18% | $0 | $1,600,000 | $0 | $0 | $4,141,000 | 10% | $5,793,876 | $3,335,780 | $81,232,770 | $0 |
| 75 | Galen Weston | Loblaw Companies Limited | L-T | $590,000 | $1,104,259 | $1,694,259 | 187% | $32,705 | $1,573,336 | $786,671 | $0 | $4,086,971 | 36% | $7,730,949 | $6,461,489 | $29,958,493 | $0 |
| 76 | Marie Inkster (1) | Lundin Mining Corporation | LUN-T | $662,934 | $756,495 | $1,419,429 | * | $26,247 | $1,602,370 | $1,033,919 | $0 | $4,081,965 | * | $529,342 | $1,678,366 | $5,295,155 | $0 |
| 77 | David Harquail | Franco-Nevada Corporation | FNV-T | $812,750 | $812,750 | $1,625,500 | -17% | $15,066 | $1,625,500 | $812,750 | $0 | $4,078,816 | -10% | $1,432,882 | $4,268,984 | $111,874,600 | $0 |
| 78 | Michael Emory | Allied Properties Real Estate Investment Trust | AP-UN-T | $800,000 | $1,200,000 | $2,000,000 | 21% | $40,000 | $1,013,238 | $1,000,000 | $0 | $4,053,238 | 26% | $4,749,240 | $1,909,439 | $50,297,395 | $0 |
| 79 | Lino Saputo Jr. | Saputo Inc. | SAP-T | $1,300,000 | $2,669,680 | $3,969,680 | -24% | $0 | $0 | $0 | $0 | $3,969,680 | -24% | $0 | $0 | $5,657,590 | $0 |
| 80 | Neil Rossy | Dollarama Inc. | DOL-T | $1,100,000 | $605,000 | $1,705,000 | -37% | $0 | $0 | $2,221,200 | $14,404 | $3,940,604 | -5% | $18,322,767 | $0 | $111,905,629 | $0 |
| 81 | Christian Bayle | Inter Pipeline Ltd. | IPL-T | $675,000 | $940,000 | $1,615,000 | 13% | $219,566 | $2,100,000 | $0 | $0 | $3,934,566 | 10% | $0 | $2,445,107 | $17,317,576 | $0 |
| 82 | Scott Medhurst | Toromont Industries Ltd. | TIH-T | $780,000 | $1,494,377 | $2,274,377 | 0% | $34,672 | $0 | $1,331,000 | $246,724 | $3,886,773 | 4% | $8,488,800 | $0 | $17,113,149 | $2,109,627 |
| 83 | David Smith | Keyera Corp. | KEY-T | $600,000 | $1,068,000 | $1,668,000 | 26% | $0 | $2,137,644 | $0 | $60,000 | $3,865,644 | 12% | $0 | $4,800,022 | $19,373,189 | $0 |
| 84 | Galen Weston | George Weston Limited | WN-T | $590,000 | $858,804 | $1,448,804 | 146% | $32,705 | $1,573,408 | $786,668 | $0 | $3,841,585 | 28% | $0 | $2,668,243 | $29,164,414 | $0 |
| 85 | Robert Espey | Parkland Fuel Corporation | PKI-T | $777,500 | $1,358,681 | $2,136,181 | 66% | $74,859 | $1,081,626 | $489,996 | $0 | $3,782,662 | 58% | $10,834,408 | $2,442,648 | $17,817,811 | $0 |
| 86 | Adam Paul | First Capital Realty Inc. | FCR-T | $800,000 | $926,000 | $1,726,000 | -3% | $48,800 | $1,300,000 | $650,000 | $0 | $3,724,800 | 9% | $233,850 | $3,364,216 | $9,347,356 | $0 |
| 87 | Nancy Southern | Canadian Utilities Limited | CU-T | $875,000 | $1,050,000 | $1,925,000 | 9% | $30,625 | $384,596 | $106,486 | $1,049,206 | $3,495,913 | -21% | $1,480,500 | $1,096,200 | $7,064,159 | $26,097,188 |
| 88 | Marty Proctor | Seven Generations Energy Ltd. | VII-T | $450,000 | $604,800 | $1,054,800 | * | $66,781 | $578,625 | $1,777,721 | $0 | $3,477,927 | * | $0 | $674,772 | $5,299,634 | $0 |
| 89 | Michael Rose | Tourmaline Oil Corp. | TOU-T | $600,000 | $2,250,000 | $2,850,000 | 6% | $60,000 | $0 | $242,198 | $0 | $3,152,198 | 7% | $0 | $0 | $208,305,852 | $0 |
| 90 | Yvon Charest # | iA Financial Corporation Inc. | IAG-T | $872,548 | $879,280 | $1,751,828 | 11% | $0 | $261,757 | $595,800 | $0 | $2,609,385 | 7% | $827,880 | $253,056 | $3,596,689 | $9,221,612 |
| 91 | Pierre Karl Péladeau | Quebecor Inc. | QBR-B-T | $1,300,000 | $1,225,730 | $2,525,730 | * | $0 | $0 | $0 | $43,200 | $2,568,930 | * | $0 | $0 | $2,224,062,051 | $8,528,900 |
| 92 | Bruce Linton | Canopy Growth Corporation | WEED-T | $200,000 | $300,000 | $500,000 | 18% | $21,291 | $0 | $1,994,723 | $0 | $2,516,014 | 316% | $17,958,334 | $0 | $92,312,920 | $0 |
| 93 | Peter Anderson | CI Financial Corp | CIX-T | $650,000 | $720,000 | $1,370,000 | -12% | $0 | $810,018 | $270,001 | $0 | $2,450,019 | -16% | $0 | $1,833,650 | $12,153,853 | $0 |
| 94 | Gerald Schwartz | Onex Corporation | ONEX-T | $1,685,259 | $0 | $1,685,259 | -86% | $0 | $0 | $0 | $0 | $1,685,259 | -86% | $40,053,000 | $0 | $883,116,229 | $0 |
| 95 | Terry Booth | Aurora Cannabis Inc. | ACB-T | $325,000 | $243,750 | $568,750 | 222% | $0 | $690,000 | $336,422 | $0 | $1,595,172 | -35% | $12,890,000 | $2,325,000 | $30,984,585 | $0 |
| 96 | Peter Forde (1) | SmartCentres Real Estate Investment Trust | SRU-UN-T | $492,480 | $245,107 | $737,587 | * | $14,806 | $745,107 | $0 | $0 | $1,497,500 | * | $0 | $897,410 | $2,333,175 | $0 |
| 97 | Nancy Southern | ATCO Ltd. | ACO-X-T | $125,000 | $150,000 | $275,000 | 16% | $4,375 | $452,597 | $464,984 | $149,887 | $1,346,843 | -12% | $2,853,250 | $1,351,350 | $15,540,263 | $3,728,170 |
| 98 | V. Prem Watsa | Fairfax Financial Holdings Limited | FFH-T | $600,000 | $0 | $600,000 | 0% | $718,207 | $0 | $0 | $0 | $1,318,207 | 111% | $0 | $0 | $1,117,557,768 | $0 |
| 99 | Jeff Tygesen # | Turquoise Hill Resources Ltd. | TRQ-T | $205,852 | $229,023 | $434,875 | * | $10,044 | $539,170 | $0 | $0 | $984,089 | * | $0 | $637,088 | * | $0 |
| 100 | David Ehrlich # (1) | Canadian Apartment Properties Real Estate Investment Trust | CAR-UN-T | $700,000 | $0 | $700,000 | * | $19,460 | $0 | $0 | $0 | $719,460 | * | $0 | $1,430,669 | $1,502,353 | $0 |
| 101 | Mark Leonard | Constellation Software Inc. | CSU-T | $0 | $0 | $0 | 0% | $0 | $0 | $0 | $0 | $0 | 0% | $0 | $0 | $382,517,359 | $0 |
| Median | $1,100,000 | $1,620,000 | $2,801,743 | 3% | $48,613 | $2,370,416 | $900,000 | $14,404 | $6,765,816 | 7% | $1,480,500 | $4,815,250 | $18,994,227 | $0 | |||
| Average | $1,123,313 | $1,896,535 | $3,019,848 | 14% | $162,805 | $4,431,977 | $1,316,061 | $280,766 | $9,211,457 | 62% | $8,018,069 | $8,632,064 | $148,278,140 | $5,785,876 | |||
Source: Global Governance Advisors
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* = Information not available
# = Former CEO
Notes:
(1) New CEO in 2018.
(2) Includes pension compensation from Exxon Mobil and ownership of only Imperial Oil.
(3) Includes compensation and ownership from Power Corporation of Canada and Power Financial Corporation.
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The Methodology
Where two names appear, the company has co-CEOs. If a company does not have a CEO, the president or a similar top executive is used. When CEOs have changed during the year, the chart typically shows the CEO who was in place for the larger portion of the year.
For companies that report pay in U.S. dollars, the amounts are converted to Canadian dollars at the average annual exchange rate for 2018. If the company has an irregular year-end, the exchange rate is the rate used by the company for its currency conversion.
Salary is base salary in 2018.
Bonus is the value of any annual and long-term cash incentives paid in 2018.
Percent change is the change from 2017’s total salary and bonus. No number is shown if the CEO was not in the same position for all of 2017 and 2018.
Other includes all other payments and the cash value of perquisites and benefits.
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Share-based awards is the total value of shares, share units, trust units or similar long-term incentive plan grants in 2018.
Option-based awards is the estimated grant date value of new stock options awarded to the CEO in 2018.
Pension value is the additional annual value of the pension benefit earned by the CEO in 2018.
Unexercised in-the-money options is the year-end value of stock options held by the CEO.
Unvested share-based awards is the year-end value of share units or similar compensation that has not yet met time or performance conditions required for payout.
Value of CEO’s equity is the year-end value of all equity held by the CEO, valued at the end of the company’s fiscal year or the date of the company’s most recent proxy circular disclosure. This typically includes shares and vested share units, but excludes unexercised stock options.
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Accrued CEO pension obligation is the estimated year-end value of a company’s total expected cost to provide the CEO’s defined-benefit pension. It excludes the value of any defined-contribution pension accrued by the CEO.
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