Bombardier's $17.5-Million Payout To Ex-CEO Raises Investor Eyebrows

Alain Bellemare, then-president and CEO of Bombardier, at the International Paris Airshow at Le Bourget, France, June 17, 2015.

MONTREAL ― A shareholder advisory agency is urging Bombardier Inc. shareholders to vote against the company’s approach to compensation over the severance package to former CEO Alain Bellemare that could reach $17.5 million. Glass Lewis says in a report that the plane and train manufacturer’s practices raise “serious questions″ given its weak financial performance before he was dismissed last March.The advisory firm switched its advice from initially supporting the remuneration policy following Bombardier’s decision at the end of the fiscal year to make Bellemare eligible for a special $4.9 million payment following the completion of the sale of Bombardier Transportation to Alstom.

Bellemare is also entitled to a severance of about $10 million plus close to $2.7 million in share awards.

While it is always sad when what could be a great successful Canadian business fails, it’s clear this one needs to. No more taxpayer dollars should be used to bail out this disaster.

This scenario repeats itself often. How much tax payer money given to BombardierRail over the decades ? How many rich CEO’s VP’s etc Bombardier ?

that guy is super corrupt and the reason why bombardier went down the shitter

I say we never subsidize them again. Ever.

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