It was another year of full steam ahead for incentive bonuses handed out to BC Ferries executives.

Ongoing bonuses at BC Ferries send ‘wrong message’

Incentive pay for brass rose when extra subsidy created surplus

Despite rising fares and looming service cuts, top executives at BC Ferries still collected big performance bonuses this year.

President and CEO Michael Corrigan got a $64,421 “incentive payment” on top of a base salary that was up eight per cent to $364,000 for a total of $563,000 in overall remuneration – the maximum allowed after a cap on payouts was put in place last year.

BC Ferries’ executive compensation disclosure says Corrigan’s bonus reflects his “exemplary leadership” that was borne out by the corporation beating its financial target for the 2012-13 fiscal year.

Chief financial officer Robert Clark got more than $133,000 in incentive pay and executive vice-president Glen Schwartz got an extra $127,000 based on  performance.

Both of their bonuses were almost twice as high as a year earlier and the two collected close to $500,000 overall.

None of the payouts are anywhere near as high as the more than $1 million that former CEO David Hahn received in some past years until he left the corporation and the government eliminated additional long-term bonuses and imposed the compensation cap.

Managers were eligible for their full incentive pay this year because of the $15-million surplus BC Ferries posted for last year.

In the previous two years, they got only half as much incentive pay because the corporation missed its financial targets.

But NDP critic Nicholas Simons said the new surplus is a fiction because of additional subsidies the province injected.

“The only reason they got their full bonuses was because the government provided that increased service fee,” Simons said.

Transportation Minister Todd Stone wasn’t available for an interview but issued a statement saying the executive payouts send the “wrong message” at a time when BC Ferries is struggling to reduce its expenses.

He said he will speak to the BC Ferries board to outline the province’s expectations for all executives at Crown corporations.

“While BC Ferries isn’t a Crown corporation, they do receive provincial government funding and we would expect them to follow suit,” Stone said. “Government is tightening its belt, along with many British Columbians, and I believe that BC Ferries should take the same approach.”

Simons, however, said the BC Liberals have had plenty of time to act.

“Four ministers in a row have been saying how disappointed or disturbed or shocked they are when they see this exorbitant compensation,” Simons said. “The reality is they’ve done nothing about it.”

The Powell-River Sunshine Coast MLA said his constituents are apoplectic because they’re ferry-dependent and have seen fares rise on average 75 per cent over the last 10 years.

BC Ferries has reduced its executive by almost half and cut their overall salaries by more than 50 per cent, Stone noted.

Just Posted

11th annual Magic Cottage kicks off this weekend in Port Alberni

Cottage will be open over two weekends in November

Port Alberni RCMP hold second bike registration event

Project 529 will be at Canadian Tire on Saturday, Nov. 17

Husky Gas Station robbed on Third Avenue

Port Alberni RCMP still searching for suspect

New Coast Guard radar boosts marine traffic monitoring off B.C. coast

Six radar installations set up for Georgia Strait to Queen Charlotte Strait to Prince Rupert

Port Alberni care homes benefit from funding to purchase new safety equipment

Echo Village and Fir Park Village will be receiving $32,500 each

Winter weather hits parts of Canada

As some parts of the country brace for cold, parts of B.C. remain warmer than 10 C

5 B.C. cities break temperature records

Parts of B.C. remain warm, at 10 C, while others feeling chilly

B.C. teacher’s Amazing Race takes students on Canada-wide adventure

Agassiz high school students say they had the experience of a life time

Don’t sign USMCA until LGBTQ language excised, U.S. lawmakers urge Trump

The trade agreement, forged after 13 months of tense negotiations between Canada and the U.S. is scheduled for Nov. 30

US official: US intel says prince ordered Khashoggi killing

Vice-President Mike Pence told reporters that ‘the murder of Jamal Khashoggi was an atrocity.’

Canada’s health system commendable overall but barriers to care remain: UN

The United Nations says Canada’s health care system is “commendable” overall but vulnerable groups still face barriers to quality care.

Unique technology gives children with special needs more independent play

UVic’s CanAssist refined seven prototypes aided by $1.5M government contribution

Kelly Ellard’s boyfriend has statutory release revoked

Darwin Duane Dorozan had several parole infractions that found him ‘unmanageable’

Most Read