The total compensation of directors of state-owned corporations will rise from $ 2 million to over $ 5 million, predicts Quebec Finance Minister Eric Girard, who wants to pass a bill to attract more qualified candidates.
The legislative text, tabled Tuesday in the National Assembly, proposes changes to more than 50 laws governing government subsidiaries such as Loto-Québec, the Agence du Revenu du Québec or Bibliothèque et Archives nationales du Québec (BAnQ), a explained the minister at a press conference.
The Act respecting the governance of state-owned enterprises will be amended for the first time since 2006 so that human resources committees of boards of directors establish competency profiles applicable to directors. Eric Girard thus hopes to avoid any political interference in the appointment process.
“We are modernizing the law by bringing in skills profiles that will force the government to make appointments that will respect these skills profiles,” he said. We improve and professionalize our CAs. “
The governance and ethics committees of the CAs will continue to work with the Ministry of the Executive Council, and in some cases with external consultants, to recommend potential directors to the government.
We improve and professionalize our CAs
Supervision required
Currently, the directors of ten Crown corporations are paid. If Bill 4 is passed, this number will increase to 46. The annual remuneration of directors will vary between $ 5,000 and $ 40,000, the latter amount being reserved for board chairs. The total will be between five and six million, Girard said.
Additional transparency measures will also affect the disclosure of the compensation of key executives of Crown corporations.
PQ MP Martin Ouellet believes that the offer of compensation will force the government to tighten its selection processes to avoid the appearance of favoritism, both in the choice of directors and leaders of these organizations.
“It must be well supervised and the citizen is well aware that the people appointed are very transparent and that there is no favoritism,” said Mr. Ouellet, referring to the controversies surrounding appointments to two government corporations in the cultural sector, the Conservatoire de musique et d’art dramatique du Québec and BAnQ, both covered by the law.