The Globe and Mail reports in its Tuesday, March 26, edition that the head of Canada's second-biggest railway enjoyed a big jump in compensation after an historic year for the company as it integrated a major acquisition. A Canadian Press dispatch to The Globe reports that financial filings from Canadian Pacific Kansas City
show that chief executive officer Keith Creel's total compensation rose 38 per cent to $20.1-million last year. CPKC's five top officers including Mr. Creel earned $63.5-million overall in 2023 compared with less than half that amount the previous year. The boost enjoyed by the entire C-suite stemmed largely from share-based awards and cash bonuses after Calgary-based Canadian Pacific merged its operations with Kansas City Southern in April. At rival Canadian National Railway, total compensation for its six senior executives decreased 3 per cent to $29.6-million, mainly due to lower bonuses after the Montreal-based company fell short of performance targets. CN CEO Tracy Robinson's compensation nudged up by 2 per cent to $14-million, mainly due to the fact she joined as CEO two months into 2022, so she was not paid for a full year.
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