Canadian pension funds support calls for more transparency at Bombardier
Two of Canada’s top pension funds have come out in support of a shareholder proposal calling for greater transparency at plane and train maker Bombardier Inc., despite a rejection of the idea by the company’s management.
Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan (OTPP) both also expressed concern with the Quebec-based company’s executive compensation structure and its related moves to amend its deferred share unit and stock option plans.
CPPIB, the country’s largest public pension plan and one of Bombardier’s top shareholders, said on Tuesday that it has concerns with the awards granted to executives outside of the company’s normal compensation plan, as well as the lack of performance-based awards granted under the long-term incentive plan. | READ MORE