CP Boss Gets Huge Compensation Deal
CBJ — Hunter Harrison, chief executive officer of Canadian Pacific Railway, was paid $19.9-million in 2015, a year in which the company’s shares fell by 20%.
Harrison, 71, received a compensation package that included a salary of $2.8-million, and stock and options worth $9.8-million. His bonus of $6-million was down by $1.2-million from 2014. Harrison’s 2015 compensation included a number other items, such as personal use of the company aircraft worth $1-million.
Harrison, who previously served as CEO with rival CN Rail, became CEO of CP in 2012 after a boardroom battle led by activist investor William Ackman. Under his leadership, CP has posted record sales and profits, but has also had many layoffs as a means to become more efficient. The share price has risen by 126% since his arrival, outperforming that of other railways and the broader stock market.