Higher level Crown Corporation executives will have their pay reduced this fiscal year.
The provincial government says in a news release that CEOs and Vice Presidents will see their salary holdback eligibility reduced by almost 67 per cent, and eliminated entirely for executives of the Crown Investments Corporation.
Holdbacks are the incentive based portion of an executive’s salary, which the government says prior to the holdback, could add between 10 and 25 per cent to an executive’s compensation.
Minister Responsible for the Crown Corporations, Don Morgan, says individual salary impacts will range from a reduction of around $9,400 per year to just over $111,000.
The change applies to 54 executives at eight Crown corporations.

Exec Comp Reduction Backgrounder