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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (108461)	6/7/2021 9:47:32 AM
From: Goose94	Read Replies (1) of 202367

Air Canada (AC-T) execs return bonuses Air Canada has bowed to the public uproar over bonuses, announcing last night that its chief executive and executive vice-presidents are voluntarily giving up those payouts in a bid to quell an “unintended consequence” over compensation. They’re also relinquishing “share appreciation units” that were handed out after the execs agreed to forego some of their salaries during the COVID-19 crisis. In its announcement last night, the airline pointed out its comp structure was approved in the middle of last year, (i.e., long before it negotiated the $5.9-billion emergency backstop with the federal government). In a brief statement, Deputy Prime Minister Chrystia Freeland and Transport Minister Omar Alghabra said “Canadians are right to expect responsible corporate behaviour.” A couple basic questions: whose best interests are served in this outcome? What signal does it send to other executives and their directors who determine comp? And what’s the fallout (if any) for employee retention? BNN.ca

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