Wednesday, January 28th2.3°C
24624
24105

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

24153


Recent Trending




Today's Market
S&P TSX14602.88-231.00
S&P CDNX667.30-9.49
DJIA17191.37-195.84
Nasdaq4637.994-43.503
S&P 5002002.16-27.39
CDN Dollar0.7981-0.0088
Gold1286.60-5.10
Oil46.23-1.72
Lumber317.20+5.50
Natural Gas2.872-0.109

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.47+0.04
Cantex0.0350.00
Anavex Life Sciences0.182+0.002
Metalex Ventures0.035-0.005
Russel Metals23.70-0.63
Copper Mountain Mining1.00-0.05
Colorado Resources0.145-0.01
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.03-0.025
Mission Ready Services0.21-0.03

 



24910

FEATURED Property
2174785303 Regent Ave
1 bedrooms 1 baths
$138,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...


Ailing Parents: Tax Issues

If your parent has become ill, there can be several tax issues that come into play depending on the nature of their illness, their age and the role that family members are playing. For example, if you...

_








Member of BC Press Council


23646