Air Canada CEO paid $7.8 million in 2013

Discussion in 'Air Canada | Aeroplan' started by tcook052, Apr 9, 2014.  |  Print Topic

  1. tcook052
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    tcook052 Silver Member

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    MONTREAL—Air Canada’s chief executive received more than $7.8 million in compensation last year as he oversaw a dramatic turnaround in the airline’s financial performance and share price.

    According to regulatory documents filed ahead of airline’s annual meeting in May, Calin Rovinescu’s total compensation was down from $9.5 million in 2012, when he received a $5-million award on the third anniversary of this employment with the carrier. That one-time payment was part of a 2009 employment contract that lured him from Canaccord Genuity, the investment bank where he was a co-founder.

    Excluding this retention payment, Rovinescu’s compensation increased 72 per cent from the $4.5 million he received in 2012, which in turn was up from almost $4 million in 2011.


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