Air Canada CEO took home more than $9.5-million in 2012

Discussion in 'Air Canada | Aeroplan' started by tcook052, May 31, 2013.  |  Print Topic

  1. tcook052
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    tcook052 Silver Member

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    http://www.theprovince.com/business/Canada+took+home+more+than+million+2012/8462342/story.html

    Calin Rovinescu, Air Canada chief executive, earned more than $9.5-million in 2012, including $1.4-million in salary and a controversial $5-million retention bonus paid to him in early 2012 under the terms of his employment contract.

    Mr. Rovinescu’s compensation last year was more than twice the nearly $4-million he earned in 2011, despite his salary remaining flat year-over-year, according to documents filed by the airline Friday.
     
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  2. uggboy
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    uggboy Gold Member

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    It's amazing, I can only dream of such numbers. Thanks for sharing this news.
     
  3. tomh009
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    tomh009 Gold Member

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    ... because of the $5M retention bonus, which was granted to him much earlier. Otherwise not much change.
     
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  4. Stephan

    Stephan Silver Member

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    Nice work if you can get it. As someone else commented on TOB I also have no problems with increasing CEO salaries if the company is making greater profits....Oh wait...
    Hey, if AC shareholders are happy, then who cares. That is all that matters, no?
    And I will be sitting in J and not 3-4-3 like the fleeced kettles in Y heading to HKG soon...
     
  5. LETTERBOY
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    LETTERBOY Gold Member

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    When it comes to things like this, pretty much. Which is as it should be, IMO. Letting customers dictate CEO compensation would be like letting NY Jets fans call plays during the game.

    If he were only making $500,000 people would still be yelling at him for all kinds of things.
     
  6. tomh009
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    tomh009 Gold Member

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    I think that 3-4-3 Y on a 777 is some other airline -- AC is still doing 3-3-3. At least for now.

    Edit: I now see that the 3-class config is coming to the YVR-HKG route. Personally I'll be OK with that as long as I can upgrade to PE. But that's probably not until the 2014 Altitude program.
     
  7. Stephan

    Stephan Silver Member

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    Well you get your pick now...LHR as well. Thought somebody here said that would never happen...
     
  8. Fredrik
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    Fredrik Silver Member

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    If Emirates can do 3-4-3 in Economy I don't see why AC couldn't? Not that any of them should.

    The AC CEO earns a lot but what is normal pay for an airline CEO? Until we know it's hard to say if he earns too much.
     

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