It's been a disastrous few years for Bombardier - not so much, it would seem, for its former CEO
Alain Bellemare, then-president and CEO of Bombardier, at the International Paris Airshow at Le Bourget, France, June 17, 2015.
MONTREAL ― A shareholder advisory agency is urging Bombardier Inc. shareholders to vote against the company’s approach to compensation over the severance package to former CEO Alain Bellemare that could reach $17.5 million. Glass Lewis says in a report that the plane and train manufacturer’s practices raise “serious questions″ given its weak financial performance before he was dismissed last March.The advisory firm switched its advice from initially supporting the remuneration policy following Bombardier’s decision at the end of the fiscal year to make Bellemare eligible for a special $4.9 million payment following the completion of the sale of Bombardier Transportation to Alstom.
Bellemare is also entitled to a severance of about $10 million plus close to $2.7 million in share awards.
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