Grocery executive Galen G. Weston got a $1.2 million raise in 2022, bringing his total compensation to $11.79 million after consultants hired by Loblaw Cos. argued he was underpaid.
As Canadians battled soaring inflation last year, grocery executive Galen G. Weston had an easier time than most affording it.
“This is not a unique pat on the back, nor a reflection of a moment in time. Loblaw’s compensation review for senior executives is a standard and routine process undertaken every two years, and overseen by the company’s board of directors,” said Thomas. “The process is designed to make sure Loblaw’s compensation is competitive and in line with other retail companies, which it is.”Weston is chairman and president of Loblaw Cos., as well as chairman and CEO of George Weston Ltd.
Still, the pay package means Weston made 431 times the average grocery employee wage of $27,300, said David Macdonald, chief economist at the Canadian Centre for Policy Alternatives. Or, put another way, Weston made roughly $5,679 an hour, Macdonald said. Wayne Hanley, president of the union local representing 25,000 Loblaw workers in Ontario, said Weston’s raise shows the company is “out of touch.”
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