E. Hunter Harrison Gets a Bonus...

[Anonymous]

CN CEO earns $16M US in 2004
TORONTO - The CEO of Canadian National Railway, E. Hunter Harrison, enjoyed a very good year in the compensation department, regulatory filings show, according to the CBC News.
Harrison was awarded total compensation worth $16 million US in 2004 (all figures in U.S. dollars). That included a base salary of $1.25 million, "other" compensation of $1.71 million, long-term incentive plan payouts of $1.59 million US, 202,500 restricted share units worth $8.1 million (paid out at 20 per cent per year) and a bonus of $3.5 million.

The bonus was the maximum allowed under Harrison's revised compensation arrangement – equal to 280 per cent of his base salary – and was awarded as the railway reported its best-ever annual profit of $1.26 billion.

Harrison has been CN's CEO since January 2003. His contract was renegotiated and extended following Harrison's "outstanding performance", according to a company filing with the U.S. Securities and Exchange Commission.

The improved compensation package included an increase in his annual pension to $900,000 a year, up $100,000.

On a split-adjusted basis, CN's shares rose almost 50 per cent in 2004. The railway also boosted its quarterly dividend in January by 28 per cent.

CN said the compensation is "is line with that of major U.S. corporations, including railroads."

(This item was distributed by CBC News March 23, 2005.)

[spbed]

Well bully for him. Does he share? [:D]

Originally posted by Limitedclear
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Living nearby to MP 186 of the UPRR  Austin TX Sub

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