The average total compensation for Canada’s 100 best-paid CEOs hit a historic high of $9.5 million in 2015, according to the results of an annual report on executive compensation. That is 193 times the average worker’s salary in Canada, according to the report from the Canadian Centre for Policy Alternatives.
Potential fraud at Valeant
Mackenzie named Michael Pearson, the former CEO of Valeant Pharmaceuticals International, as the top paid CEO in 2015, earning $182,902,189. It was reported last fall that Pearson and the company’s former CFO, Howard Schiller, were being investigated for by U.S. prosecutors for potential fraud involving the relationship between Valeant and a specialty pharmacy. Pearson stepped down from his role in the spring.
Read more at The Toronto Star.