The Globe and Mail reports in its Wednesday, April 10, edition that last year Canadian Tire saw its revenue tumble. A Globe editorial says, given the poor results, Canadian Tire did something very rare for a major public company: it did not pay cash bonuses to its executives, even though there was the ready excuse of poor weather. This is unusual, but it should not be. The Globe says withholding bonuses in a bad year is good corporate governance and a worthwhile example for other companies to follow. Boards owe it to their shareholders and employees to ensure that executive pay is actually aligned with performance. The idea is a CEO will do their job to the best of their ability if they have a personal financial interest in the company's future. If that is so, however, the risk has to be there. Unfortunately, it too often is not, and this is a problem that can affect many of Canada's largest companies. The Globe notes that BCE, Bank of Montreal and First Quantum Minerals paid their chief executive officers rich bonuses despite lacklustre showings. The Globe says if CEOs are going to share in the upside of a company's performance, then it makes sense that they should share in the downside too.