After the US, Canada has the second highest CEO-to-worker pay ratio. Last year, for instance, the CEO of BCE, George Cope, received $11.1-million in compensation. This staggering sum is nearly 200 times more than what a Bell Canada technician in Toronto makes and 2,000 times the pay of an Indian call-centre worker who responds to Bell customers.
Pension fund managers will go into Barrick's annual meeting in Toronto on Wednesday April 24 to oppose executive John Thornton's bonus payment of $11.9-million. They also are expected to vote against the re-election of board members who recommended the payment. The way executives at Barrick are enriching themselves -- while most Canadians have a hard time economically -- offers an excellent opportunity for public interest groups and the public to pressure the business community and government to bring executive compensation back under control.