Hydro One Ceo Salary 2019

The maximum ceo compensation will now be 15 million annually which is less than 25 per cent of the former ceos direct compensation said rickford.

Hydro one ceo salary 2019. As a publicly traded company hydro one discloses total compensation for the ceo cfo and next three highest earning executive positions annually in the management information circular mic. A summary of the directive follows. Ontario issued a directive thursday to hydro one ordering it to pay its ceo no more than 15 million per year substantially less than the partially privatized utility had proposed. Hydro one has agreed to cap the annual compensation of its chief executive at 15 million the provincial utility said friday acquiescing to the demands of the progressive conservative.

On a pro rated basis she. Rickford took the step thursday of issuing a formal directive that compels hydro one to set the ceos base salary no higher than 500000 with a maximum of 1 million in incentives. Statement of past compensation. Hydro ones compensation framework february 2019 1 framework summary on february 21 2019 the province issued a directive regarding ceo executive and board compensation.

4 2019 was one of 76 employees at the provinces largest crown corporation to earn 200000 or more last year. It proposed that the ceos total compensation would range from a target of 2475 million up to a maximum of 2775 million with a cash 750000 base salary and the remainder in performance. The ceo s salary would be slashed from 12 million to 750000. Grewal who took over as hydro president and ceo on feb.

Whereas the previous ceo compensation was up to 6 million the new framework would see what hydro one dubbed a 62 per cent reduction in cost totalling now 25 million with a cap on compensation up to 277 million.