Peek inside their pay packets

How salaries for senior executives compare

Published on May 15, 2010

Ever wonder how much senior executives at some Crown corporations or provincially funded authorities are paid?

Let's take Nalcor Energy, for instance.

The salaries for the province's flagship energy corporation don't appear in provincial budget documents - but they are available upon request.

The payroll for nine senior executives at Nalcor totalled more than $2.26 million last year, according to information provided to The Telegram by Nalcor Energy. (See graphic, page A2, for details)

Ever wonder how much senior executives at some Crown corporations or provincially funded authorities are paid?

Let's take Nalcor Energy, for instance.

The salaries for the province's flagship energy corporation don't appear in provincial budget documents - but they are available upon request.

The payroll for nine senior executives at Nalcor totalled more than $2.26 million last year, according to information provided to The Telegram by Nalcor Energy. (See graphic, page A2, for details)

Included in that payroll is $505,700 in salary, performance and other compensation, and car allowance paid to Nalcor president and CEO Ed Martin. It doesn't include a one-time payment of $112,492 to Martin for unused vacation accumulated from 2005 to 2009.

Nalcor had revenues of $569.2 million, according to its 2008 annual report.

To compare those payrolls, The Telegram also requested similar information from Eastern Health, Newfoundland and Labrador Housing Corp. (NLHC), Newfoundland and Labrador Liquor Corp. (NLC), and several utility/energy corporations in other parts of the country.

At Eastern Health, the province's largest health-care authority, salaries and other compensation paid to 12 senior executives totalled more than $1.98 million last year.

That includes a $385,000 salary, along with car allowance of $10,000 and housing allowance of $35,000, paid to president and CEO Vickie Kaminski.

Eleven other senior executives, except Kaminski, receive education allowances ranging from just under $1,000 to just over $2,600.

Eastern Health had revenues of more than $1 billion in 2008-09, the bulk of it allotted in the provincial budget.

Newfoundland and Labrador Housing Corp.'s total pay package for its president and top executives totalled $661,841 last year.

The Crown corporation's chairman and CEO, Len Simms, was paid a salary of $148,642.

NLHC said its executives do not receive performance bonuses or allowances.

In 2008-09, NLHC had revenues of $128.2 million, which included an operating grant of $35.7 million from the provincial government.

The Newfoundland and Labrador Liquor Corp. paid its top six executives more than $800,000.

The NLC's CEO, Steve Winter, was paid nearly $207,000. The NLC compensation package does not include bonuses or allowances, Winter explained.

The NLC had revenues of roughly $260 million in the most recent fiscal year, and turned over $124 million of this to the provincial government as a dividend.

Salaries and incentives for five top executives at Emera Inc., a publicly traded energy company based in Nova Scotia, totalled more than $3.5 million last year. Its salary information is published annually.

Company president and CEO Christopher Huskilson collected salary and incentives of more than $1.3 million last year.

For comparison purposes, the salary totals for Emera executives in this story do not include other compensation they received, such as stock options.

Emera owns electric utilities, including Nova Scotia Power and Bangor Hydro Electric Co., and is involved in natural gas transmission through subsidiary Brunswick Pipeline.

Last year, Emera had revenues of $389.1 million.

Toronto Hydro Corp., a holding company that distributes electricity through its subsidiaries in the greater Toronto area, had a payroll of more than $1.7 million last year for its top seven executives.

Two men filled the job of corporation president and CEO following a retirement in August 2009.

Combined, they were paid more than $1.27 million last year in salary and performance-based incentives. This number does not include other forms of compensation, such as pension benefits.

Last year, Toronto Hydro had gross revenues of almost $2.6 billion.

Not all provincial Crown corporations - NB Power and Manitoba Hydro - were willing to provide the details of compensation packages paid to their senior executives.

NB Power generates and distributes electricity in New Brunswick.

"NB Power would be in violation of the Protection of Personal Information Act (POPIA) if we were to disclose the information sought," said an e-mailed response from NB Power spokesman John McLaughlin.

He did say NB Power is reducing and controlling costs as requested by New Brunswick Premier Shawn Graham. Part of that plan includes reducing the number of vice-presidents from eight to five.

Manitoba Hydro, a Crown corporation that distributes electricity and natural gas, did not provide the information by deadline.

Hydro public affairs manager Glenn Schneider said the corporation publishes salary information once a year, though it does not usually distribute the details nationally.

The information is not available on online.

mbaird@thetelegram.com troberts@thetelegram.com




SALARIES OF THE CEO'S

Nalcor Energy president and CEO
$390,613 (base salary)
$115,080 (performance and other compensation including car allowance)
Total salary: $505,693
- Eastern Health president and CEO
$340,000 (base salary)
10,000 (car allowance)
$35,000 (housing)
Total salary: $385,000
- Newfoundland and Labrador Housing Corp. chairman and CEO
Total salary: $148,642
(No performance salary or allowances are paid)
- Newfoundland and Labrador Liquor Corp. president and CEO
Total salary: $206,736
(No performance salary or allowances are paid)
- Emera Inc. president and CEO
$649,038 (base salary)
$693,750 (incentive plan)
Total salary: $1.34 million
- Toronto Hydro Corp. president and CEO
$740,989 (base salary)
$537,078 (incentives)
Total salary: $1,278,067*
* Salary was received by two men following a retirement
Source: Eastern Health, NLHC, annual reports, NLC