Bombardier's Chief Executive Officer Makes Statement Adjusting 2016 Compensation for Senior Executive Officers
- More than 50% of the total planned 2016 compensation will be deferred until 2020 for the six named executive officers, five of which were appointed in 2015.
- This deferred compensation will only be payable if the company achieves performance goals that position it for long term success, in line with the company's strategic plan.
- Details to be provided in a supplement to Bombardier's 2017 Management Proxy Circular which will be filed later this week.
MONTREAL, QUEBEC--(Marketwired - Apr 2, 2017) - (TSX:BBD.A)(TSX:BBD.B)(OTCQX:BDRBF) -Alain Bellemare, Bombardier's Chief Executive Officer, has requested that the Bombardier Board of Directors defer the payment of more than half of the total planned 2016 compensation for its six named executive officers until 2020.
"Bombardier is extremely proud of its Québec heritage. We are, and will always be, extremely grateful for Québec's and Canada's strong support over many years. With this support, we are competing and winning in the global market with world-class planes and trains designed and built here at home.
Over the past seventy-five years, our fellow citizens have always been by our side. It is because of this deep relationship that we are sensitive to the public reaction to our executive compensation practices.
To address these concerns, I've asked our Board of Directors to defer the payment of more than 50% of the total planned 2016 executive compensation for our six named executive officers to 2020. This compensation will only be payable if we achieve our performance objectives; delivering value to all our shareholders, including the people of Québec and Canada.
This action further demonstrates the long-term commitment of the senior executive team to the successful transformation of Bombardier."
- Alain Bellemare, President and Chief Executive Officer, Bombardier
Bombardier is the world's leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere. Our vehicles, services and, most of all, our employees are what make us a global leader in transportation.
Bombardier is headquartered in Montréal, Canada. Our shares are traded on the Toronto Stock Exchange (BBD) and we are listed on the Dow Jones Sustainability North America Index. In the fiscal year ended December 31, 2016, we posted revenues of $16.3 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier .
Bombardier is a trademark of Bombardier Inc.
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