The Globe and Mail reports in its Saturday, June 4, edition that Enbridge chief executive officer Al
Monaco saw his
annual bonus climb 42 per cent to
$1.75-million in 2015
and his total pay package grow by
50 per cent to $8.9-million
because the company posted
"strong financial results," according
to spokesman Graham White.
The Globe's Janet McFarland writes that the pipeline operator's share
price fell 23 per cent in 2015 and it
posted a loss of $37-million while
cutting 600 jobs. Mr. White
said, however, Enbridge's internally adjusted
earnings per share were up 16
per cent, cash flow from operations
rose 23 per cent and
Enbridge completed 14 major
projects worth $8-billion. Suncor said
CEO Steve Williams earned $12.2-million in 2015 -- a year when Suncor
had a loss of $2-billion and
it cut more than 1,700
jobs -- because the company had
its best operating performance in
its history, generated significant
cash flow and reduced operating
costs. Suncor said its share price
also led its peer group with a relatively
modest drop of 3.2 per cent
in 2015.
As a result, the board awarded
Mr. Williams an annual cash
bonus of $2.8-million, a 33-per-cent
increase from $2.1-million in
2014.
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