BRAMPTON, Ont. — Prime Minister Justin Trudeau and Quebec Premier Philippe Couillard were peppered with questions Thursday about their aid packages for Bombardier after the company’s senior executives saw their compensation rise by nearly 50 per cent last year.
After touring a Magna auto parts facility in Brampton, Ont., Trudeau was asked several times how he can justify the $372.5-million loan package announced in February for Bombardier’s CSeries and Global 7000 aircraft programs.
“We respect the free market and the choices that companies will make,” Trudeau said. “But we also have a responsibility to ensure that the investments we make with taxpayers’ dollars are leading to good jobs and growth.”
Total compensation for the Montreal-based manufacturer’s top five executives and board chairman Pierre Beaudoin was US$32.6 million in 2016, up from US$21.9 million the year before, according to a proxy circular ahead of Bombardier’s annual meeting on May 11.
CEO Alain Bellemare received US$9.5 million, up from US$6.4 million in 2015, including US$5.2 million in share and option-based awards and a US$1 million salary. His annual bonus almost doubled to US$2.36 million.
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