06:14:52 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Manulife Financial Corp
Symbol MFC
Shares Issued 1,801,128,214
Close 2024-04-25 C$ 31.94
Market Cap C$ 57,528,035,155
Recent Sedar Documents

Globe says Manulife CEO pay soars above peers

2024-04-26 07:42 ET - In the News

Also In the News (C-CM) Canadian Imperial Bank of Commerce (CIBC)
Also In the News (C-IFC) Intact Financial Corp
Also In the News (C-POW) Power Corp of Canada
Also In the News (C-SLF) Sun Life Financial Inc

The Globe and Mail reports in its Friday, April 26, edition that the best-paid chief executive officer in Canada's financial-services industry is not the leader of one Canada's Big Six banks, but instead Rocco (Roy) Gori of Manulife Financial. The Globe's David Milstead writes that it is surprising how big a lead Mr. Gori has taken in this particular compensation competition -- particularly given how Manulife stock has performed over his tenure. Manulife paid Mr. Gori $19.38-million in 2023. The package included a salary of $1.73-million, an annual bonus of $5.15-million, stock awards Manulife valued at $11.55-million and other benefits. It is a 13-per-cent increase from the prior year, when he made $17.08-million. The incumbent bank CEOs could only dream of such a raise in 2023. Only Canadian Imperial Bank of Commerce's Victor Dodig received more pay in 2023 than the year before, and that was a 2-per-cent increase. Mr. Gori's 2023 pay package is also much bigger than insurance industry peers. Charles Brindamour made $15.21-million at Intact Financial, Jeffrey Orr made $14.07-million at Power Corp. of Canada and Kevin Strain made $10.65-million in his second full year at Sun Life Financial.

© 2024 Canjex Publishing Ltd. All rights reserved.