SNC Lavalin Group Inc | Review of Senior Leadership Compensation Policy at SNC Lavalin Group Inc

Status
2.04% votes in favour
AGM date
Previous AGM date
Proposal number
4
Resolution details
Company ticker
SNC
Lead filer
Mouvement d'éducation et de défense des actionnaires (MÉDAC)
Resolution ask
Adopt or amend a policy
ESG theme
  • Governance
ESG sub-theme
  • Remuneration or pay
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Health Care
Company HQ country
Canada
Supporting statement
Last April, one Journal de Québec headline read
“Rémunération versée au grand patron : les
employés de SNC-Lavalin littéralement dégoûtés”(1)
[Compensation paid to the big boss: SNC Lavalin
employees literally disgusted]. The Journal de
Montréal, in a piece written by economics columnist
Michel Girard, stated “Les patrons de SNC-Lavalin
vivent sur une autre planète”(2) [SNC-Lavalin
bosses live on another planet]. These articles
openly questioned the 2019 to 2020 increases in
the salaries of the CEO and top executives, given
that the company reported a heavy loss of $956
million in 2020, compared to a net profit of $330
million in 2019. Over the same period, the company’s
stock fell 26%, closing 2020 at $21.73 per share.(3)
Needless to say, 2017 closed at $57.05 per share.(4)
We need to rethink the current compensation
structure to prevent such criticism from once again
tarnishing the company’s reputation, both within the
broader community and among its own employees.

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