BlackBerry CEO John Chen received the largest total compensation in Canada in the Canadian Centre for Policy Alternatives’ most recent ranking of the highest-paid CEOs. (Frank Gunn/CP)
John Chen of BlackBerry was the highest-paid CEO in Canada in the most recent annual ranking by the Canadian Centre for Policy Alternatives, with total earnings of more than $89.7 million in 2014, the most recent year for which the data is compiled. Chen’s pay marks a 2% increase over the previous year’s rankings, when Onex Corp. CEO Gerald Schwartz occupied the top spot with $87.9 million.
Chen is an outlier, making ten times as much as the average among his peers on this ranking: the average total compensation for a Top 100 CEO was $8.96 million. While the CCPA, a left-leaning think tank, points out that this is 184 times the average Canadian salary, it does represent a slight decrease of 2.6% compared to the previous year. And since the ranking draws on 2014 data, it doesn’t account for last year’s precipitous drop in oil prices, which may in future drag down compensation for energy sector bosses, who are well-represented on this list.
The Montreal Economic Institute, a right-leaning think tank, also points out that the total annual pay to the top 100 CEOs, at slightly under $1 billion total, is tiny compared to the size of the economy overall and in comparison to the size of the federal government.
Each year the ranking tends to be a bit of a rorschach blot depending on who’s looking at it. Some see overpaid fat cats riding high on the labour of their comparatively underpaid employees; others see fair compensation for high-stakes decision-makers with billions of dollars and thousands of jobs riding on their shoulders. As we’ve pointed out before: it’s complicated.
MORE ABOUT CEO SALARIES:
- A simple fix for CEO salaries
- Why comparing CEO pay to average incomes makes no sense
- How long it takes Canadian CEOs to make as much as most of us do in a year
- How Michelle de Cordova is persuading banks to close the CEO pay gap
- RBC is the first Canadian bank to weigh CEO pay against average employee salaries
Canada’s Top 100 Highest-Paid CEOs:
* “Other Compensation” includes bonuses, shares, options, pension and any other payments. Full details at CCPA.
| Rank | Name | Company | Base Salary | Other Compensation* | Total |
|---|---|---|---|---|---|
| 1 | John Chen | Blackberry Ltd | $341,452 | $89,373,567 | $89,715,019 |
| 2 | Donald Walker | Magna International Inc | $358,924 | $23,058,350 | $23,417,274 |
| 3 | Gerald Schwartz | Onex Corporation | $1,435,694 | $19,700,252 | $21,135,946 |
| 4 | Hunter Harrison | Canadian Pacific Railway Ltd | $2,421,592 | $15,210,577 | $17,632,169 |
| 5 | Mark Thierer | Catamaran Corp | $1,325,256 | $1,935,978 | $16,330,467 |
| 6 | Donald Guloien | Manulife Financial Corp | $1,438,720 | $13,045,488 | $14,484,208 |
| 7 | John Thornton | Barrick Gold Corp | $2,760,950 | $11,500,513 | $14,261,463 |
| 8 | Paul Wright | Eldorado Gold Corp | $1,514,000 | $12,274,702 | $13,788,702 |
| 9 | Bradley Shaw | Shaw Communications Inc | $2,500,000 | $10,844,105 | $13,344,105 |
| 10 | Steven Williams | Suncor Energy Inc | $1,361,731 | $11,060,445 | $12,422,176 |
| 11 | Daniel Daviau (CEO North American Capital Markets) | Canaccord Genuity Group Inc | $494,325 | $11,248,566 | $11,742,891 |
| 12 | Stanley Marshall | Fortis Inc | $1,200,000 | $10,356,689 | $11,556,689 |
| 13 | George Cope | Bce Inc | $1,400,000 | $10,080,250 | $11,480,250 |
| 14 | Edmund Clark | Toronto-Dominion Bank | $1,500,000 | $9,936,575 | $11,436,575 |
| 15 | Michael Pearson | Valeant Pharmaceuticals International | $2,106,818 | $9,241,711 | $11,348,529 |
| 16 | James Smith | Thomson Reuters Corp | $1,711,789 | $9,171,086 | $10,882,875 |
| 17 | Pierre Dion | Quebecor Inc -Cl B | $1,056,667 | $9,784,571 | $10,841,238 |
| 18 | Jeffrey Orr | Power Financial Corp | $4,237,000 | $6,382,245 | $10,619,245 |
| 19 | Gerald Mccaughey | Canadian Imperial Bank Of Commerce | $1,500,000 | $9,052,908 | $10,552,908 |
| 20 | Brian Porter | Bank Of Nova Scotia | $1,000,000 | $9,256,242 | $10,256,242 |
| 21 | Gordon Nixon | Royal Bank Of Canada | $1,126,027 | $9,106,247 | $10,232,274 |
| 22 | Louis Vachon | National Bank Of Canada | $1,050,354 | $9,097,274 | $10,147,628 |
| 23 | Linda Hasenfratz | Linamar Corp | $593,960 | $9,483,768 | $10,077,728 |
| 24 | Donald Lindsay | Teck Resources Ltd | $1,493,500 | $8,483,357 | $9,976,857 |
| 25 | William Downe | Bank Of Montreal | $1,594,979 | $8,364,218 | $9,959,197 |
| 26 | Doug Suttles | Encana Corp | $1,042,191 | $8,786,409 | $9,828,600 |
| 27 | Steve Laut | Canadian Natural Resources | $678,462 | $8,825,040 | $9,503,502 |
| 28 | Joe Natale | Telus Corp | $1,041,260 | $8,386,299 | $9,427,559 |
| 29 | Charles Jeannes | Goldcorp Inc | $1,499,858 | $7,913,750 | $9,413,608 |
| 30 | Claude Mongeau | Canadian National Railway | $1,187,338 | $8,154,269 | $9,341,607 |
| 31 | Miguel De La Campa (Executive Co-Chairman And Director) | Pacific Rubiales Energy Corp | $1,388,257 | $7,902,602 | $9,290,859 |
| 32 | Ronald Pantin (CEO & Director) | Pacific Rubiales Energy Corp | $1,388,257 | $7,865,729 | $9,253,986 |
| 33 | Serafino Iacono (Executive Co-Chairman And Director) | Pacific Rubiales Energy Corp | $1,388,257 | $7,808,840 | $9,197,097 |
| 34 | Jose Fancisco Arata (President And Director) | Pacific Rubiales Energy Corp | $1,388,257 | $7,790,437 | $9,178,694 |
| 35 | Guy Laurence | Rogers Communications Inc | $1,200,000 | $7,789,148 | $8,989,148 |
| 36 | Scott Saxberg | Crescent Point Energy Corp | $1,081,885 | $7,897,144 | $8,979,029 |
| 37 | Stephen Wetmore | Canadian Tire Corp | $1,250,000 | $7,632,931 | $8,882,931 |
| 38 | William Doyle | Potash Corp Of Saskatchewan | $1,387,764 | $7,305,183 | $8,692,947 |
| 39 | Michael Roach | CGI Group Inc | $1,300,000 | $7,345,302 | $8,645,302 |
| 40 | Marc Poulin | Empire Co Ltd | $1,000,000 | $7,575,955 | $8,575,955 |
| 41 | Brian Ferguson | Cenovus Energy Inc | $1,350,000 | $7,086,635 | $8,436,635 |
| 42 | Paviter S. Binning (President) | Weston (George) Ltd | $1,075,000 | $7,303,285 | $8,378,285 |
| 43 | Paul Rollinson | Kinross Gold Corp | $1,237,568 | $7,066,730 | $8,304,298 |
| 44 | Paul Mahon | Great-West Lifeco Inc | $964,231 | $7,248,745 | $8,212,976 |
| 45 | Asim Ghosh | Husky Energy Inc | $1,704,500 | $6,488,265 | $8,192,765 |
| 46 | Russell Girling | Transcanada Corp | $1,300,008 | $6,802,000 | $8,102,008 |
| 47 | Craig H. Muhlhauser | Celestica Inc | $1,000,000 | $7,020,827 | $8,020,827 |
| 48 | Calin Rovinescu | Air Canada | $1,400,000 | $6,599,951 | $7,999,951 |
| 49 | Pierre J. Blouin | Manitoba Telecom Services Inc | $850,000 | $6,932,241 | $7,782,241 |
| 50 | Dean Connor | Sun Life Financial Inc | $1,000,000 | $6,735,938 | $7,735,938 |
| 51 | Sean Boyd | Agnico Eagle Mines Ltd | $1,500,000 | $5,990,430 | $7,490,430 |
| 52 | Rich Kruger | Imperial Oil Ltd | $881,391 | $6,604,599 | $7,485,990 |
| 53 | Bruce Flatt | Brookfield Asset Manage | $662,628 | $6,683,686 | $7,346,314 |
| 54 | Ravi K. Saligram (CEO) | Ritchie Bros Auctioneers | $537,801 | $6,711,073 | $7,248,873 |
| 55 | Alain Bedard (President/CEO/Acting CFO) | Transforce Inc | $1,050,000 | $5,717,859 | $6,767,859 |
| 56 | André Desmarais | Power Corp Of Canada | $1,125,000 | $5,631,890 | $6,756,890 |
| 57 | Steven K. Hudson (CEO) | Element Financial Corp | $1,025,000 | $5,702,493 | $6,727,493 |
| 58 | Charles Magro | Agrium Inc | $1,151,524 | $5,518,125 | $6,669,649 |
| 59 | Mark Davis | Chemtrade Logistics Incom Fund | $729,167 | $5,923,570 | $6,652,737 |
| 60 | Daniel Schwartz | Restaurant Brands International | $773,066 | $5,867,084 | $6,640,150 |
| 61 | Paul Desmarais, Jr. | Power Corp Of Canada | $1,125,000 | $5,412,816 | $6,537,816 |
| 62 | Peter Marrone | Yamana Gold Inc | $1,432,701 | $4,937,776 | $6,370,477 |
| 63 | John Floren | Methanex Corp | $844,750 | $5,516,169 | $6,360,919 |
| 64 | Gregory Lang | Novagold Resources Inc | $765,596 | $5,576,563 | $6,342,160 |
| 65 | Clifford T. Davis | Nevsun Resources Ltd | $675,000 | $5,611,804 | $6,286,804 |
| 66 | Geoffrey Martin | Ccl Industries Inc | $975,642 | $5,276,470 | $6,252,112 |
| 67 | Michael H. Mccain (President & CEO) | Maple Leaf Foods Inc | $1,030,125 | $5,003,298 | $6,033,423 |
| 68 | Al Monaco | Enbridge Inc | $1,118,000 | $4,810,132 | $5,928,132 |
| 69 | Francois Olivier | Transcontinental Inc | $950,480 | $4,975,700 | $5,926,180 |
| 70 | Dori Segal | First Capital Realty Inc | $720,000 | $5,203,550 | $5,923,550 |
| 71 | Pierre Beaudoin | Bombardier Inc | $1,400,906 | $4,295,044 | $5,695,950 |
| 72 | Rupert Duchesne (CEO) | Aimia Inc | $872,692 | $4,780,044 | $5,652,736 |
| 73 | Jose Boisjoli | Brp Inc | $957,375 | $4,623,488 | $5,580,863 |
| 74 | Jay S. Hennick (CEO) | Firstservice Corp | $1,748,514 | $3,802,908 | $5,551,422 |
| 75 | Thomas Harrington (CEO - Ds Services Of America) | Cott Corporation | $31,842 | $5,519,300 | $5,551,142 |
| 76 | Robert A. Gannicott | Dominion Diamond Corp | $1,020,208 | $4,473,349 | $5,493,557 |
| 77 | Ellis Jacob | Cineplex Inc | $1,000,000 | $4,351,480 | $5,351,480 |
| 78 | Nick Orlando (Former President & CEO) | Martinrea International Inc | $687,500 | $4,529,409 | $5,216,909 |
| 79 | Bradley Nullmeyer (President) | Element Financial Corp | $845,625 | $4,340,005 | $5,185,630 |
| 80 | Edward Sonshine | Riocan Real Estate Investment Trust | $1,200,000 | $3,911,004 | $5,111,004 |
| 81 | Tim Gitzel | Cameco Corp | $936,400 | $4,162,697 | $5,099,097 |
| 82 | Charles Brindamour | Intact Financial Corp | $869,846 | $4,192,341 | $5,062,187 |
| 83 | Randy Smallwood | Silver Wheaton Corp | $899,617 | $4,162,065 | $5,061,682 |
| 84 | Richard D. Mcbee | Mitel Networks Corp | $768,457 | $4,272,161 | $5,040,618 |
| 85 | Galen G. Weston | Loblaw Companies Ltd | $1,000,000 | $4,023,755 | $5,023,755 |
| 86 | Robert Card | Snc-Lavalin Group Inc | $975,775 | $3,986,587 | $4,962,362 |
| 87 | Scott Thomson | Finning International Inc | $926,273 | $3,913,426 | $4,839,699 |
| 88 | Stephen Macphail | Ci Financial Corp | $750,000 | $4,080,000 | $4,830,000 |
| 89 | Kevin A. Neveu | Precision Drilling Corp | $711,851 | $4,048,789 | $4,760,640 |
| 90 | Christopher Huskilson | Emera Inc | $875,000 | $3,744,204 | $4,619,204 |
| 91 | Alain Bouchard | Alimentation Couche-Tard | $1,351,875 | $3,245,853 | $4,597,728 |
| 92 | Dawn L. Farrell (President And CEO) | Transalta Corp | $950,000 | $3,569,488 | $4,519,488 |
| 93 | John M. Cassaday (President And CEO) | Corus Entertainment Inc | $1,000,000 | $3,513,142 | $4,513,142 |
| 94 | Marc Parent | Cae Inc | $854,167 | $3,636,652 | $4,490,819 |
| 95 | Jason D. Waugh (VP) | Canadian Energy Services & Technology Corp | $290,000 | $4,156,230 | $4,446,230 |
| 96 | James Riddell (President) | Paramount Resources Ltd | $446,250 | $3,962,270 | $4,408,520 |
| 97 | Paul Conibear | Lundin Mining Corp | $787,592 | $3,613,084 | $4,400,677 |
| 98 | Rejean Robitaille | Laurentian Bank Of Canada | $598,361 | $3,792,711 | $4,391,072 |
| 99 | Glenn Chamandy | Gildan Activewear Inc | $1,019,231 | $3,350,176 | $4,369,407 |
| 100 | Peter J. Blake (Former CEO) | Ritchie Bros Auctioneers | $387,455 | $3,893,131 | $4,280,586 |
* “Other Compensation” includes bonuses, shares, options, pension and any other payments. Full details at CCPA.
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