At the end of 2021, the executives of the Montreal multinational CGI regained most of their compensation which had been reduced a year earlier, when the shock of the pandemic had wiped out CGI’s performance targets.
So after dropping by half to $ 14.9 million in 2020, the amount of net total compensation awarded to CGI’s five most senior executives rebounded to $ 30.8 million by year-end 2021. It’s is a sum very close to the 30.65 million that had been allocated to them at the end of 2019, before the pandemic.
As calculated by CGI, and published in its “Management Circular” sent to shareholders in preparation for their annual meeting on February 2, this amount of net total compensation for the most senior executives includes their base salaries as well as the value of bonuses. in CGI securities (shares, options) and in cash paid to them at the end of the year depending on whether or not the company’s performance objectives have been met.
Among the five most senior executives of CGI, the executive chairman of the board and co-founder, Serge Godin, benefits in 2021 from a rebound in his total net compensation to 10.94 million.
This amount corresponds to double the 5.46 million he obtained in 2020, but it is still lower than the 12.44 million obtained in 2019, before the shock of the pandemic.
As CGI’s second-largest executive, President and CEO George D. Schindler sees his total net compensation rebound to $ 10.79 million at the end of fiscal 2021.
This is more than double the 4.81 million he had obtained in 2020 and higher than the amount of 10.35 million received at the end of fiscal 2019, before the pandemic.
Finally, third among CGI’s senior executives, Executive Vice President and Chief Financial Officer François Boulanger is benefiting from a rebound in the amount of his total net compensation to 3.43 million for fiscal 2021.
It is also double the sum of 1.68 million he had obtained the previous year, and slightly higher than the 3.4 million that had been paid to him at the end of the 2019 financial year.
CGI at a glance
Activities: IT consulting services for large companies, financial institutions and government organizations
Global workforce: 80,000 employees (+ 4,000 over one year)
Turnover (as of September 30): 12.13 billion (- 0.3% over one year)
Operating profit (as of September 30): 1.96 billion (+ 4.5% over one year)
Net profit (as of September 30): 1.36 billion (+ 22% over one year)
Market capitalization (as of December 20): $ 26.7 billion (Toronto)
Share value (as of December 20): $ 109 (+ 8% over one year)
Multiple price / earnings per share (as of December 20): 19.9 times
Sources: Refinitiv, Toronto Stock Exchange