Bombardier CEO asks directors to hike back his pay amid a public outcry

Trudeau defends Bombardier bailout after execs take home millions in raises
PM Justin Trudeau defended a bailout of Bombardier saying the government is putting its faith in the long term prospects of the company.

The chairman of Bombardier is asking his board of directors to scale back his compensation for 2016 in the face of a public outcry.

Pierre Beaudoin says in a statement released late Friday that he took the decision in light of criticism over dramatic increases in executive pay.

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Beaudoin says it’s clear the issue has become a distraction to the work done by the company and he hopes his step will shift the focus back to that.

He says he has asked the board to bring his compensation to what it was in 2015, but the statement didn’t indicate a figure.

READ MORE: Bombardier facing union drive in Montreal

Total compensation for the Montreal-based manufacturer’s top five executives and Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before.

Earlier Friday, senior Quebec cabinet ministers said Bombardier must to respond to the shock it created among citizens and elected officials regarding increased executive pay.