Former SNC Lavalin CEO took home $7 million in 2019
The Canadian PressGeneral
Bruce’s compensation, for five months work, includes relocation reimbursement and $670k bonus.
The company’s proxy circular says Bruce, who ceded the top spot to Ian Edwards in June, received a base salary of $1.3 million.
He also took in $4.2 million in share-based awards, a bonus of about $670,000 and “other compensation” of $891,000.
The latter includes a half-million dollars in reimbursement costs to cover Bruce’s move from Montreal to the United Kingdom to join his family upon stepping down, aside from a spot on the board of directors that he held until the end of the year.
The document states that Bruce, whose total compensation was $5.4 million in 2018, “did not receive any severance payments as a result of his retirement,” adding that his contract was modified on June 11 in the wake of the head office shakeup that day.
Bruce’s departure 10 months ago capped off a near four-year stint at the helm of SNC-Lavalin that was marked by a 42 per cent plunge in share price and a political controversy tied to a now-settled corruption case.