MONTREAL — Bombardier’s chief executive took a 27% pay cut last year, the transportation giant said Friday.Pierre Beaudoin’s total compensation in U.S. dollars was worth nearly US$6-million, compared with $8.2-million in 2011, according to a regulatory filing ahead of the company’s annual meeting next month.The company founder’s grandson earned $1.4-million in base salary in 2012, compared with $1.29-million a year earlier.The 2011 number was for 11 months because the company changed its fiscal year-end to Dec. 31.In 2012, Beaudoin also received $2.45-million in share-based awards, $1.2-million in options, $761,100 in incentives and a $22,000 pension value.A year earlier, he received $3.3 million in share-based awards, $1.5-million in options, $1.57-million in incentives and $362,400 in pension value.The total compensation for Bombardier’s top five executives fell 19% to $17.9-million.Railway division president Andre Navarri was second highest at $3.9-million, down from $4.7-million in 2011.Aerospace president Guy Hachey followed at $3.8-million, compared with $4.4-million a year earlier.Chief financial officer Pierre Alary’s compensation decreased to $2.3-million from $2.8-million in 2011.The other named executive was senior vice-president Richard Bradeen who earned $1.8-million in 2012.Bombardier’s profits plummeted 29.8% to $588-million on $16.8 billion of revenues last year.On the Toronto Stock Exchange, Bombardier’s shares closed unchanged at C$3.93 in Friday trading.The Canadian Press

Leave a Reply

Your email address will not be published. Required fields are marked *