Here's how much the new Metrolinx CEO will get paid — plus his potential performance bonuses
Lindsay's compensation, revealed as part of a government Order in Council, includes a bonus structure that ranges from zero to 20 per cent of his base $686,566 salary, 'based on his performance evaluation and subject to any statutory requirements or limitations.' His compensation also includes up to six weeks of paid vacation per year.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
3 days ago
- Global News
New Metrolinx CEO contract includes potential 6-figure bonus
New Metrolinx CEO Michael Lindsay could earn just over $820,000 in the next year between performance bonuses and his salary. Details of Lindsay's contract, posted through an Order in Council, show he will receive a base salary of roughly $687,000 per year with a performance-based bonus of up to 20 per cent. It is not clear exactly what Lindsay would need to do in a year to unlock his entire bonus. If he were to achieve it, he would take home a grand total of $823,879.20. That would be a little less than the $883,990.63 former CEO Phil Verster earned in 2024, his final year at the helm of the provincial transit agency. Verster was also given a vehicle allowance of roughly $12,000 despite not owning a car. That perk has not been extended to Lindsay. Story continues below advertisement Lindsay joined Metrolinx from Infrastructure Ontario, another provincial agency. There, he fronted several controversial government announcements like the closure of the Ontario Science Centre, as well as overseeing a massive portfolio of public land and construction projects. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy He has run Metrolinx as an interim leader since Verster left and officially took on the role full-time on July 1. 'I am humbled and honoured to have been appointed as President and Chief Executive Officer of Metrolinx,' Lindsay said in a statement distributed by Metrolinx. 'As a proud resident of Toronto, and a lifelong transit commuter, I understand the importance of connecting the region and building the transit network communities need and deserve.' The Ministry of Transportation said Lindsay's salary was decided by the chair of Metrolinx's board, and bonuses would only be given for hitting certain targets. They said the bonuses written into Lindsay's contract followed the same structure as Verster's. Verster's tenure at the top of Metrolinx was plagued by delays to major transit projects like the Eglinton Crosstown LRT, which still does not have an official opening date. Ontario NDP shadow public transit minister Doly Begum said she was concerned Lindsay would face similar struggles. 'The former CEO collected an annual salary of almost a million dollars of taxpayers' money and what did we get for it? Confusion and more delays,' she said in a written statement. Story continues below advertisement 'We need full transparency and clear timelines. That's the only way we can make sure that another CEO doesn't get away with a huge cheque while front line workers get laid off.'
CTV News
4 days ago
- CTV News
Metrolinx's new CEO could earn a $137,000 annual bonus payment. Here is a closer look at his contract
The new CEO of Metrolinx won't make as much as his predecessor but could still take home more than $800,000 thanks to a lucrative bonus package. Michael Lindsay has been working as the interim CEO of Metrolinx since December 2024 but only took over as the agency's permanent CEO on July 1. According to an Order in Council detailing his three-year contract, Lindsay will earn an annual base salary of $686,566 but will also be eligible for a bonus payment of up to 20 per cent of his salary 'based on his performance evaluation.' If Lindsay maxes out the bonus payment, it would mean he would net an additional $137,313 in compensation in the form of a lump sum payment. He will also receive six weeks of paid vacation each year, per the terms of the contract. Phil Verster, the last Metrolinx CEO, made $883,99 in 2024, though it is not clear how much of Verster's compensation came in the form of a bonus payment. Verster was the fourth most paid public servant in 2024, according to the province's 2024 Sunshine List. Lindsay's salary would put him 23 on that list, excluding Verster. Lindsay was previously the president and CEO of Infrastructure Ontario. When he was named as Metrolinx's permanent CEO on June 25, board chair Dan Wright said that he was 'thrilled' to Lindsay in the permanent position. 'His proven ability to inspire the team and drive progress during the interim period gives the board great confidence in his leadership as we move forward.' Wright said in a Metrolinx press release. Lindsey takes over Metrolinx as work continues on finishing the much-delayed Eglinton crosstown LRT. Premier Doug Ford has previously said that opening the line, which was initially supposed to be finished in 2020, should be Lindsey's top priority and that he is 'fully in charge and going to get it done.' Ford has also indicated that it is possible the line could open as soon as September, though the former interim CEO of the TTC told a City of Toronto committee last week that he viewed that timeline as 'a reach.' 'I think September is a reach,' Greg Percy said. 'But, this fall is plausible, and certainly by year end. There's lots and lots of stuff going on that we need to fix to open safely, and that's what we're focused on.' In a Metrolinx press release in June, Lindsay said that he is looking forward to delivering 'the modern and high-quality transit network our communities need and deserve.'
Toronto Star
4 days ago
- Toronto Star
Here's how much the new Metrolinx CEO will get paid — plus his potential performance bonuses
New Metrolinx CEO Michael Lindsay will get paid $686,566 per year, with a potential to earn an additional $137,000 in bonuses, over the next three years during his term as head of the provincial transit agency. Lindsay's compensation, revealed as part of a government Order in Council, includes a bonus structure that ranges from zero to 20 per cent of his base $686,566 salary, 'based on his performance evaluation and subject to any statutory requirements or limitations.' His compensation also includes up to six weeks of paid vacation per year.
