Wynne says review of Hydro One pay will include raises for board of directors

Wynne says review of Hydro One pay will include raises for board of directors

Ontario Liberal Leader Kathleen Wynne says it’s unacceptable that Hydro One’s board decided to give themselves pay increases and that’s why her government pushed for a review of the utility’s compensation package.

In late April, Wynne’s government called on the company, which was partially privatized in 2015, to review its compensation scheme, and said it would abstain from a vote on the matter at an annual meeting being held today.

The Liberals and Hydro One had said the review would focus on executive compensation — which includes at least $10.7 million in severance for the CEO, who earned a $6.2-million salary last year.

Today at an election campaign stop, Wynne says that review also includes board compensation, such as a $70,000 raise for the chair of the board and $25,000 raises for other board members.

Progressive Conservative Leader Doug Ford says those amounts are ridiculous for a part-time job that involves attending several meetings.

New Democrat Peter Tabuns says the NDP plan to buy back shares of Hydro One to return it to public control is the only way to stop millionaires from looking after themselves.

Source URL
http://www.cbc.ca/news/canada/toronto/wynne-says-review-of-hydro-one-pay-will-include-raises-for-board-of-directors-1.4663518
Author Name
Tom Langstrom