The big boss of Bombardier received compensation of 6.5 million in 2023, according to regulatory documents sent to shareholders.
Its president and CEO, Éric Martel, saw his compensation decrease by 2.2% compared to last year.
In total, the six highest executives of the private jet manufacturer shared compensation of 17.5 million, down 4.3% compared to last year.
In its explanations to shareholders, the Montreal company highlights that adjusted earnings before taxes, interest and depreciation (EBITDA) increased by 32% in 2023 to stand at 1.23 billion. She points out that Bombardier has reduced its debt by 400 million in 2023.
A member of the Bombardier family and former CEO, Pierre Beaudoin received compensation of $734,400 for his role as Chairman of the Board of Directors.
Rejection of a proposal on French
The Montreal company also once again rejected a proposal from the Shareholder Education and Defense Movement (MÉDAC) on French.
MÉDAC has submitted a proposal to disclose the languages mastered by its directors and officers. The proposal is put into practice in several large companies in Quebec Inc., including the National Bank, Quebecor and Power Corporation.
“The board of directors believes that the skills currently included in our skills grid meet the needs and strategic priorities of Bombardier and that it is not necessary to include language skills for our directors,” responds the board of directors which recommends that shareholders vote against the proposal.
The MÉDAC proposal had also obtained the support of the Caisse de dépôt et placement du Québec (CDPQ).
Last year, the president and CEO, Éric Martel, described the unveiling of linguistic skills as a “symbolic” gesture and assured that the company attached importance to French.
Mr. Martel also specified that six of the thirteen members of the board of directors have French as their mother tongue while it is a multinational also having activities outside Quebec.