Most chief executive officers at large Canadian mining companies received pay raises in 2021, even as the industry’s performance was decidedly mixed.
A surprising downgrade for mining stocks. Plus, conservative investors wake up to risks they never saw coming The CEO pay also reflects recent investor concerns about outsized compensation in the sector. Only two of the eight companies examined by The Globe and Mail award stock options to their CEOs as part of their compensation packages. Critics have said that a rising price of the commodity at company mines – whether gold, silver, copper or uranium – can allow executives to make millions from stock options as the entire industry rises, regardless of how well-run an individual company is.
Barrick said that in 2021, Mr. Bristow agreed to forfeit a share award that would have been valued at $2.26-million in exchange for the opportunity to receive two separate awards worth a total of $2.51-million in 2022 and 2023. He has received the first of those two, Barrick said. Mr. Pascall’s bonus rose to $1.57-million from $1.07-million in 2020. His stock awards rose to $3.51-million from $2.41-million.
The board gave Mr. Boyd a 137-per-cent “individual performance factor” in calculating the annual bonus, however. It cited his leadership through the COVID-19 pandemic, reducing the company’s accident rate, record highs in production and operating cash flow, increases in reserves, the Kirkland merger, and maintaining the company’s dividend.
Put him in prison VoteFordOut2022
Want to do some reports on these instead? Much more important