Linamar’s Linda Hasenfratz is among the top 15 paid CEOs in Canada, according to a new report from the Canadian Centre for Policy Alternatives.
Hasenfratz was paid over $17 million last year, making her the 14th highest paid CEO in Canada.
That includes a $709,363 salary, $2,977,794 in shared based awards, $12,470,760 in non-equity incentive plan compensation, $3,500 pension value and $1,321,571 in all other compensation.
The report lists the top 100 paid CEOs across the country. Hasenfratz is one of only three women on the list, and the highest paid among them.
Galen Weston, by comparison, brought home $11,762,145 last year.
The average profits for Canada’s highest paid CEOs last year was $13.2 million, with a pay more than 210 times the average worker’s wage.
“By the first working day of the year, Jan. 2 at 10:54 a.m., these 100 CEOs already made, on average, $62,661. It took the average Canadian worker all year long to earn that amount,” the report states.
Topping the list for total compensation – including salary, shared based awards, option based awards, non-equity incentive plan compensation, pension value and all other compensation – is Patrick Dovigi of GFL Environmental Inc., with $68,464,987.
Many of the CEOs on the list are based in metropolitan areas like Toronto and Vancouver, though there are quite a few out of Waterloo as well.
Like Hasenfratz, many of the CEOs on the list demonstrate a “diminishing reliance on salaries and pensions,” with those two pay areas making up only 12 per cent of the average CEO’s pay package.
“The major reason why CEO pay is growing so much more rapidly than worker pay isn’t their salary, pension or benefits—it’s their juicy bonuses. Average variable compensation is, on average, $10.7 million per CEO,” the report states.
The top 15 paid CEOs on the list are as follows:
- Patrick Dovigi, GFL Environmental Inc. – $68,464,987
- Joshua Kobza, Restaurant Brands International Inc. – $39,097,490
- R. M. Kruger, Suncor Energy Inc. – $36,846,735
- Alan Kestenbaum, Stelco Holdings Inc. – $35,314,289
- Tobias Lütke, Shopify Inc. – $26,994,011
- Seetarama S. Kotagiri, Magna International Inc. – $22,888,213
- Per Bank, George Weston Limited – $22,137,979
- Thomas J. Appio, Bausch Health Companies Inc. – $21,431,317
- Darren Entwistle, Telus Corp. – $21,064,289
- Keith E. Creel, Canadian Pacific Kansas City Limited – $20,079,552
- Mark J. Barrenechea, Open Text Corp. – $19,898,271
- Roy Gori, Manulife Financial Corporation – $19,382,615
- Gregory L. Ebel, Enbridge Inc. – $18,732,784
- Linda Hasenfratz, Linamar Corp. – $17,482,988
- Philip Fayer, Nuvei Corp. – $17,338,524
You can see the full report and list of CEOs here.
