Bombardier chairman desires his salary increase to be reversed
The company was getting hundreds of millions of dollars in taxpayer subsidies, CBCNews reports said.
Quebec government issued a call to the company asking them to respond to criticism about the hike in senior executive compensation by nearly 50 percent last year and Bombardier executive chairman Pierre Beaudoin was one among them,
Beaudoin said that after the company was criticized for giving big raises to its top six executives, he had requested the company's board of directors on Friday to reverse his salary increase.
"After listening to the recent public debate about the compensation of senior executives at Bombardier, I have asked the board of directors to reset my 2016 compensation, reducing it to the 2015 level," he said in a news release, adding it had become a distraction, CBCNews reports said.
Beaudoin's compensation increased from $3.85 million US in 2015 to $5.25 million US in 2016.
Bombardi spokesperson Simon Letendre told CBC News that Beaudoin had not yet received his 2016 salary.
Critics have called the salary increases unacceptable and said that these should be reversed.
(Reporting by Asha Bajaj)
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