Friday, November 21st3.1°C
22246
23883

Rogers CEO to leave with $18.5M

Nadir Mohamed, the outgoing CEO and president at Rogers Communications Inc. (TSX:RCI.A), is entitled to a retirement package worth $18.5 million when he leaves the telecom giant next year.

In documents filed late Thursday to securities regulators, Rogers says the package includes $5.5 million in cash, nearly $6.2 million in stock options and $6.8 million in restricted share units, which are non-transferable company stock.

The proxy circular also says the pension value of the package is $2.07 million less due to Mohamed's retirement.

It also notes that Mohamed has also agreed to a non-compete clause for 12 months from the date he steps down.

Last month, Rogers announced that Mohamed was leaving in January 2014, but would continue to lead the company through 2013.

The company said Mohamed has "agreed with the board to the extended retirement date of January 2014 -- or earlier if mutually agreed -- to continue to lead the company in 2013 and to work with the board on the selection process during the transition period.

Mohamed joined Rogers in August 2000 and, after heading the wireless division for several years, became CEO in March 2009 when he succeeded founder Ted Rogers.

In 2012, Mohamed made $8.21 million, a combination of his $1.2 million salary and various stock- and option-based awards. That marked an increase from $8.18 million in 2011.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
23744


23021

FEATURED Property
208444315 6200 Spencer road
5 bedrooms 3 baths
$361,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24006

24207


Member of BC Press Council


23121