Remember when David Hahn "resigned" in 2011 and it was announced that he would gain no severance package? Well, turns out he doesn't need one. He did get a healthy raise in fiscal 2012, including a huge increase to his supplementary pension, even though he departed three months before the fiscal year ended. Also, we were told Mike Corrigan, the new CEO, would receive about $564,000.
The SEDAR filing by BC Ferries gives the real numbers, without spin.
As with the Community Living British Columbia (CLBC) scenario, truth has been a casualty, abused in deadly fashion by Christy Clark's Liberal government. Most of the information Liberals gave out concerning executive compensation at BC Ferries has been intentionally deceptive.
For example, Hahn was employed for 9 months instead of 12 but cost BC Ferries, including the supplementary pension liability, $1.78 million, an increase of 25%.
Second-in-command Mike Corrigan - the person who has demonstrated inadequate knowledge of BCF operations (read Lying like a cheap rug) - cost $955,615, nearly four hundred thousand more in 2012 than in 2011, a 65% increase.
Number two at BC Ferries, Michael Corrigan, takes helm, The Globe and Mail, Dec 7. 2011
"Mr. Hahn attracted controversy for his $1-million compensation package, but the B.C. Ferries board of directors said Mr. Corrigan's total compensation will be about 60 per cent of that, about $564,000.Scribd BCFS 4 Year Exec Comp Report Recommend this post
"Mr. Lekstrom said Mr. Corrigan's salary package meets government compensation guidelines introduced last year after Mr. Hahn's salary, including bonuses and pension, raised widespread concerns and earned him the million-dollar-man nickname.
"...BC Ferries' services board chair Donald Hayes said Mr. Corrigan's appointment as ferries boss saves the company $600,000 through his salary and the elimination of Mr. Corrigan's old position as chief operating officer.
"Mr. Hayes said the company previously announced it's phasing out long-term bonus programs for senior executives, saving another $700,000 a year..."