Pay CEOs for performance, not failure [Globe and Mail, The (Toronto, Canada)]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: Globe and Mail, The
The retailer, one of Canada's largest, saw its revenue tumble. Retail sales fell 3.9 per cent in 2023 and profits, measured by net income attributable to shareholders, were $585-million, down by almost half from the year before. Given the poor results, Canadian Tire did something very rare for a major public company: it did not pay cash bonuses to its executives, even though there was the ready excuse of poor weather. This is unusual, but it shouldn't be. Withholding bonuses in a bad year is good corporate governance and a worthwhile example for other companies to follow. Boards owe it to their shareholders and employees to ensure that executive pay is actually aligned with performance. It's a core principle of executive compensation that salary is only a small part of how a chief executive officer is paid. The rest is usually a combination of cash bonuses, shares and stock options, which is called “at risk.” That is, at risk of going up or down based on the performance of the
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BMO
Earnings
- 2/27/24 - Beat
BMO
Analyst Actions
- 3/20/24 - Barclays PLC
BMO
Sec Filings
- 5/2/24 - Form 424B2
- 5/2/24 - Form 424B2
- 5/2/24 - Form 424B2
- BMO's page on the SEC website