The Globe and Mail reports in its Wednesday edition that Canada's 100 highest-paid chief executive officers broke records with their compensation in 2022, according to the Canadian Centre for Policy Alternatives. A Canadian Press dispatch to The Globe quotes senior economist David MacDonald saying, "The data this year is breaking new all-time highs." The organization's annual report found that the CEOs were paid an average of $14.9-million, up from an average of $14.3-million in 2021. That is $7,162 an hour, 246 times more than what the average Canadian worker makes. Before the second day of the new year is over, the average CEO has already made the average worker's yearly salary. That gap widened in 2022. Topping the list was executive chairman J. Patrick Doyle of Restaurant Brands International. Mr. Doyle, whose company owns Tim Hortons, Burger King and Popeyes, made $151.8-million in 2022. His pay came exclusively in the form of share-based and option-based awards. Coming in second was CEO Matthew Proud of Dye & Durham, who brought in $98.9-million solely through option-based awards. The report cited CEO Seetarama (Swamy) Kotagiri of Magna International as a distant third; he made only $36.4-million.
© 2024 Canjex Publishing Ltd. All rights reserved.