Latest news with #bonus
CTV News
a day ago
- Business
- 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.'
CTV News
a day ago
- Business
- CTV News
Hydro-Quebec CEO's compensation could approach $1 million
Hydro-Quebec's new boss will be entitled to compensation that could approach $1 million if she receives her maximum bonus. The compensation of the new CEO, Claudine Bouchard, could reach $988,500, according to information contained in a decree issued by François Legault's government. Bouchard is entitled to an annual salary of $659,000. The board of directors may also grant her a performance bonus, but this cannot exceed half the value of her salary. With this promotion, Bouchard will see her annual salary increase by 11.7 per cent compared to what she earned as chief operating and infrastructure officer. In 2024, she received an annual salary of $589,948, for total compensation of $933,362, according to the Crown corporation's annual report. The new CEO's compensation is in line with that of her predecessor, Michael Sabia, who received a salary of $663,577 and total compensation of $839,516 in 2024. In 2025, Bouchard's compensation will be determined based on the number of months she served as CEO versus her previous position. Bouchard was appointed head of the Crown corporation on July 5, following Sabia's departure, when he became the federal government's most senior civil servant. She will be responsible for steering Hydro-Quebec's massive investments, which include plans to deploy $200 billion by 2035 to increase production and improve the reliability of its network. This report by The Canadian Press was first published in French on July 23, 2025.
CNA
a day ago
- Business
- CNA
CNA938 Rewind - Mind Your Money - Bonus season - spend, save or invest?
That year-end bonus can feel like a well-deserved reward, but what should you actually do with it? Hui Wong explores how to make the most of your bonus without blowing it all in one go with Adrian Choo, CEO and Founder of Career Agility International, a career strategy consultancy.
Telegraph
2 days ago
- Business
- Telegraph
Treasury boss gets £20k bonus as growth slumps and taxes soar
The Treasury's top civil servant has been handed a bonus of up to £20,000, despite Britain's stalling growth and soaring taxes. James Bowler, the most senior official managing the UK's economy, received the uplift last year on top of a £10,000 pay rise and £5,000 pension boost, taking his total remuneration to roughly £350,000. Jessica Glover, the Treasury's director of growth and productivity, was also handed a bonus of up to £15,000 on top of a salary rise of roughly £10,000, taking her total pay including pensions to around £280,000. It comes as Britain braces for a growth slump and unemployment hits its highest rate since the pandemic in the wake of Rachel Reeves ' tax raid on businesses. Critics said the Treasury should not be rewarding 'bureaucrats' presiding over an economy that was 'performing atrociously' and warned taxpayers would be 'gobsmacked' by the revelations. The pay rises for Mr Bowler, who took on the top Treasury job in 2022, and Ms Glover, who was appointed to her role in 2023, were revealed in the department's annual accounts for 2024-25. They showed that Mr Bowler received a total salary of between £195,000 and £200,000 last year, up from £185,000-£190,000 in 2023-24. He was also handed a bonus of between £15,000 and £20,000, which he did not receive last year, and pension benefits totalling £133,000, taking his total remuneration to between £345,000 and £350,000. Ms Glover received a salary of £145,000-£150,000 last year, up from a full-time equivalent of £135,000-£140,000 the year before, as well as a bonus of £10,000-£15,000 and pension benefits of £117,000. It comes just weeks after the Governor of the Bank of England poured cold water on the Chancellor's claim that Britain's economy has turned a corner, warning that growth is slowing as high taxes bite. Official figures show GDP grew faster than expected in the three months of the year, but things are expected to slow down in the second quarter. The number of people in jobs has also slumped at the fastest rate since the pandemic in the wake of Ms Reeves' tax raid on businesses at last year's Budget. Meanwhile, experts have warned that Britain has suffered an 'almost unprecedented' plunge in productivity over the past five years in another setback for the Chancellor's growth ambitions. Richard Tice, the deputy leader of Reform UK, told The Telegraph: 'The Treasury seem confused. Performance-related bonuses are for when things get better not worse. 'Perhaps their failure to grasp this simple concept is why the country is going bust if they are in charge of our finances?' Darwin Friend, the head of research at the TaxPayers' Alliance, said: 'It should be a source of some embarrassment for the Treasury that they're handing out pay rises and bonuses to senior staff. 'The UK's economy has been performing atrociously over the past year, and while the Chancellor is the primary person to blame taxpayers will still be gobsmacked that her bureaucrats are seeing their pay packets boosted. 'The Treasury should be strictly linking the pay of all staff to economic performance from now on.' Mr Bowler was unveiled as the Treasury's permanent secretary during Liz Truss' short premiership in 2022, taking over from Sir Tom Scholar. He has spent much of his career in the department, with past briefs including director general for public spending and director general for tax and welfare. He also served as principal private secretary to both Lord Darling and Gordon Brown when they were chancellor, as well as more recently playing a senior role in the Covid taskforce. He was tipped to become the Cabinet secretary, the most senior civil servant in the country, when Ms Truss took over, but Lord Case, who has since stepped down, was kept in post instead. A Government spokesman said: 'This pay increase is in line with those of permanent secretaries across Whitehall. 'Like all others, it was set for 2024-25 in line with the recommendations of the independent Senior Salaries Review Body - with a robust framework in place to assess pay and performance. 'Decisions this Government has taken to restore economic stability have seen interest rates cut four times, a pay rise for three million workers, 380,000 jobs created and a record £120 billion in private investment coming into the UK in the past year, while the UK was also the fastest growing economy in the G7 in Q1 2025.'
Yahoo
3 days ago
- Business
- Yahoo
Ryanair boss considers increasing staff bonus to tackle excess baggage ‘scourge'
Ryanair ( is considering increasing a bonus paid to staff for identifying passengers' oversized luggage, its chief executive said. The airline currently pays staff around 1.50 euros (£1.30) for intercepting customers who are bringing bags on to the aircraft. It is reported that the bonus is capped at about 80 euros (£70) for each staff member per month. Passengers are charged a fee of up to 75 euros (£65) for bringing luggage that is larger than they paid for while booking their journey. Ryanair currently includes a small carry-on bag – capped at a size of 40x20x25cm and weight of 10kg – with every ticket. Passengers must pay a fee if they want to bring larger luggage, or if they want to bring multiple bags. Ryanair boss Michael O'Leary said on Monday that summer fares would, on average, be the same rate as 2023 – but added that he expects a boost in profitability for the airline by 'controlling costs'. Members of the European Parliament are pushing for airlines to allow passengers to be allowed to bring on free an on-board personal item and small hand luggage. However, Mr O'Leary predicted the proposal will not come into law due to a lack of space. Speaking to the business news on RTE's Morning Ireland, he said: 'We're flying largely full flights, about half the passengers can bring two bags and the other half can only bring one – because that's all that fits in the plane. 'We're already struggling with that amount of baggage. 'That's one of the reasons we are so aggressive about eliminating the scourge of passengers with excess baggage.' Mr O'Leary said more than 99.9% of passengers comply with baggage rules, with 'sizers' located within the airport. He said: 'We are happy to incentivise our (staff) with a share of those excess baggage fees, which we think will decline over the coming year or two.' The chief executive added: 'It is about 1.50 euro per bag – and we're thinking of increasing it, so we eliminate it.' Meanwhile, Mr O'Leary predicted that US President Donald Trump will 'chicken out' of introducing increased tariffs for Europe on August 1. Asked if he anticipated tariffs applying to Boeing aircraft being delivered to the airline, he said: 'Trump will probably chicken out again, I suspect the August 1 will get moved to September or October. 'We have taken delivery of five aircraft in the first quarter but no tariffs applied to those aircraft 'There is a risk of tariffs being introduced by the Europeans or the Americans in some tit-for-tat in August, September or October – but Boeing (BA) will have to pay those tariffs.' Mr O'Leary said Ryanair would work with Boeing to ensure no tariffs are applied to commercial aircraft, which he said would be bad for the manufacturer's exports to Europe as well as Airbus's ( sales to the US – as well as the Irish aircraft leasing industry. He added: 'There's increasing optimism, though, in Washington that commercial aircraft will be exempt from any tariffs – if Trump ever gets around to actually imposing tariffs.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
