Menu

Topics

Connect

Comments

Want to discuss? Please read our Commenting Policy first.

Quebec opposition parties call delayed executive raises at Bombardier a ‘scandal’

WATCH: Quebec’s opposition parties say it is “scandalous” that the Liberal government is allowing Bombardier to delay, rather than revoke, its executive pay raises. Global's Raquel Fletcher reports – Apr 4, 2017

Quebec opposition parties say they’re outraged over the salary hikes of Bombardier executives.

Story continues below advertisement

Both the Parti Québécois (PQ) and Coalition Avenir Quebec (CAQ) are calling for Premier Philippe Couillard to intervene and demand the company revoke millions of dollars of salary bonuses.

“The premier should pick up the phone and call Bombardier,” insisted PQ Leader Jean-François Lisée.

READ MORE: Protesters gather outside Bombardier HQ over CEO pay scandal

The official opposition insists the premier needs to take a stance and tabled a motion Tuesday afternoon for the Couillard to intervene and force Bombardier to abandon salary hikes for its top directors.

WATCH: Activists protest outside of Bombardier headquarters in Montreal

Bombardier retreated Sunday amid protests outside its headquarters in Montreal, saying it will delay half of what amounts to almost $33 million in bonuses.

Story continues below advertisement
Financial news and insights delivered to your email every Saturday.

The company’s top five executives and its CEO could still see millions in their bank accounts by 2019 or 2020.

READ MORE: Bombardier exec issues open letter defending pay structure after public uproar

This has created enormous public outrage after the company accepted $1 billion from the Quebec government in 2016 and hundreds of millions more from the federal government to help support its C-Series jets.

WATCH BELOW: Bombardier bailout

Story continues below advertisement

The CAQ insists the Couillard government needs to renegotiate the deal and set some conditions.

READ MORE: Justin Trudeau hammered over Bombardier bailout in House of Commons

“It took four days for Mr. Couillard to understand the anger of Quebecers,” said CAQ Leader François Legault.

“We invested something like half of the market value of managing the company. With the government participation, you have to expect it would change your way of managing the company.”

READ MORE: Bombardier delays executive pay hikes amid public outcry

The province has a 49.5 per cent stake in the company but responded it’s not its role to intervene in company operations.

 

 

Advertisement

You are viewing an Accelerated Mobile Webpage.

View Original Article