Topic Results: Chief Executive Officer

May 24, 2024

At Gildan, a board’s defeat offers lessons in shareholder management

Glenn Chamandy, co-founder of Gildan Activewear Inc. GIL-T, left his job as chief executive officer last year in a cloud of mystery after relations with his board soured. Now he returns triumphant – and under more pressure than ever before to deliver returns for the investors who won his job back. The raucous five-month battle that engulfed […]

April 7, 2024

Browning West seeks court order to prevent Gildan sale before vote on new directors

U.S. investment firm Browning West is seeking a court order preventing the board of Gildan Activewear Inc. from signing any binding deal to sell the clothing maker until shareholders vote on new directors. The request was made last week as an amendment to an existing suit in the Quebec Superior Court’s commercial division, filed by […]

March 14, 2024

Gildan says allegations by key shareholder Browning West violated U.S. securities law

Gildan Activewear is accusing one of its largest shareholders of violating American securities law and has asked the regulator to investigate allegations that the investor has been spreading falsehoods about the Montreal-based clothing maker’s new chief executive, Vince Tyra. In a letter sent to the U.S. Securities and Exchange Commission late Thursday, Gildan alleged that U.S. […]

January 29, 2024

Gildan to hold shareholder meetings in late spring for board of directors vote

Canadian clothing maker Gildan Activewear Inc., GIL-T locked in a fight with dissident investors over its decision to sack its chief executive officer in December, is convening its shareholders in late spring to vote on whether they want a new board. The company says the timeline for the meeting on May 28 will give investors “a reasonable […]

April 11, 2022

Shopify shares rise as tech company announces 10-for-1 stock split

Shopify Inc. co-founder, chair and chief executive Tobias Lutke has three young children. The billionaire is willing to give up the opportunity to pass along the company to his offspring in exchange for maintaining control for as long he works at the online commerce giant. Ottawa-based Shopify, Canada’s largest tech company, announced on Monday it plans […]

November 5, 2021

Language office eyes probe after Air Canada English-only speech

Michael Rousseau’s first speech to business leaders in Montreal was supposed to be his coming out party, a chance for Air Canada new chief executive to build credibility and tell the story of an airline – a pillar of the Quebec economy – in recovery mode. Instead, the CEO’s English-only talk, during which he revealed that […]

January 17, 2020

Bombardier has a 50% chance of being in rail business in three years

Michel Nadeau, executive manager at the Institute for Governance and former deputy CEO at Caisse de dépôt, weighs in on Bombardier’s struggles. He says that while he believes the company will survive, it will be a much small corporation. He also says that there is a 50% chance that the Montreal-based business will still be […]

May 14, 2019

Short-term thinking forcing companies to delay IPOs, opt for dual-class shares: Governance expert

Yvan Allaire, executive chair at the Institute for Governance of Private and Public Organizations, joins BNN Bloomberg to discuss “quarterly capitalism” in light of WestJet CEO Ed Sims’ warning on the destruction it brings to long-term company plans. To watch this interview, please click here.  

January 23, 2019

Myth of ‘superstar CEO’ driving excessive pay: Report

When it comes to compensation, the myth of the “superstar CEO” continues to drive excessive pay, as companies are desperate to attract and retain top talent — even if it doesn’t always lead to improved corporate perform23ance and they have other options. That’s according to a report out of the United Kingdom that delved into […]

June 21, 2018

Why Canadian CEO pay has soared over the past decade

When shareholders of Canada’s big banks opened their proxy voting forms in early 2008, they found a striking new proposal on the ballot. Submitted by a small ethical mutual fund company, the resolution called on banks to give investors an annual vote on how executive pay was designed. Bank boards initially opposed the motion as […]

January 2, 2018

Canada’s top CEOs will make $50K before noon on Jan. 2

If they were to live on the average worker’s pay, Canada’s CEOs could stop working at around 11 a.m. on Jan. 2 and take the rest of the year off. That’s because by 10:57 a.m. on the second day of the year, their earnings will have already hit $49,738, the equivalent of the country’s average […]

November 21, 2017

Canada’s ‘questionable’ CEO pay system needs overhaul: Think tank

Current executive compensation practices are making Canadian CEOs rich, but at the expense of a strong corporate culture and the long-term interests of shareholders, according to a new report from the Institute for Governance of Private and Public Organizations (IGOPP). “Mutual trust, loyalty, the sharing of objectives and pride in the organization, the sense of […]

November 21, 2017

IGOPP Calls for Changes to CEO Compensation

Today, the Institute for Governance of Private and Public Organisations (IGOPP) released its policy paper entitled Executive Compensation: Cutting the Gordian Knot.  The compensation of CEOs remains a contentious issue and, for the past twenty years, has drawn sharp and unrelenting criticism, much of it justified.  At issue has been the fact that the ratio […]

November 21, 2017

Executive compensation

The median total CEO compensation has more than doubled between 1998 and 2007, followed by a 17.7% correction in 2008 and an uptick afterwards. Since 2010 however, CEO compensation has stabilized at about $8 million. The chief executive officers of the big six Canadian banks are obviously better paid with a total compensation of $10.5 […]

November 21, 2017

Companies urged to rethink executive pay practices

Companies should give CEOs share units less often and stop paying them with stock options to motivate better long-term performance and minimize the role of luck in compensation payouts, a new report argues. The Quebec-based Institute for Governance of Private and Public Organizations has proposed revamping the model for executive pay in Canada, saying companies […]

November 21, 2017

Here are the pay perks you’d enjoy if you were a CEO in Canada

The typical Canadian CEO makes $8 million a year, 140 times the average private-sector salary, according to new research by the Montreal-based Institute for Governance of Private and Public Organizations (IGOPP). In the banking sector, that ratio is even higher, with the median CEO compensation at $10.5 million. Things, though, weren’t always so. In 1998, […]