According to a report released on Monday by Loblaw , Bank has since received $438,333 in salary, $6.6 million in share-based awards, $803,535 in option-based awards, $910,660 in cash bonus and about $13.3 million in other forms of compensation. That adds up to a total of $22,137,979 in compensation during Bank's first few months on the job. Bank brings with him three decades of experience in retail.
He was the CEO of Salling Group A/S, the largest retailer in Denmark that owns 1,700 multi-banner supermarkets across three countries.A Loblaw representative confirmed that part of the compensation that Bank received was the money he forfeited by leaving the company. "This is a common practice for senior executives reflecting their unique circumstances when joining another organization," they stated in an email. Well, he did come up with the ingenious plan to increasing profits by raising the price of things people need to survive...."In M
Source: News Formal (newsformal.com)
Loblaw CEO Compensation Salary Awards Bonus Retail
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