It was another year of full steam ahead for incentive bonuses handed out to BC Ferries executives.

It was another year of full steam ahead for incentive bonuses handed out to BC Ferries executives.

Ongoing bonuses at BC Ferries send ‘wrong message’

Incentive pay for brass rose when extra subsidy created surplus

Despite rising fares and looming service cuts, top executives at BC Ferries still collected big performance bonuses this year.

President and CEO Michael Corrigan got a $64,421 “incentive payment” on top of a base salary that was up eight per cent to $364,000 for a total of $563,000 in overall remuneration – the maximum allowed after a cap on payouts was put in place last year.

BC Ferries’ executive compensation disclosure says Corrigan’s bonus reflects his “exemplary leadership” that was borne out by the corporation beating its financial target for the 2012-13 fiscal year.

Chief financial officer Robert Clark got more than $133,000 in incentive pay and executive vice-president Glen Schwartz got an extra $127,000 based on  performance.

Both of their bonuses were almost twice as high as a year earlier and the two collected close to $500,000 overall.

None of the payouts are anywhere near as high as the more than $1 million that former CEO David Hahn received in some past years until he left the corporation and the government eliminated additional long-term bonuses and imposed the compensation cap.

Managers were eligible for their full incentive pay this year because of the $15-million surplus BC Ferries posted for last year.

In the previous two years, they got only half as much incentive pay because the corporation missed its financial targets.

But NDP critic Nicholas Simons said the new surplus is a fiction because of additional subsidies the province injected.

“The only reason they got their full bonuses was because the government provided that increased service fee,” Simons said.

Transportation Minister Todd Stone wasn’t available for an interview but issued a statement saying the executive payouts send the “wrong message” at a time when BC Ferries is struggling to reduce its expenses.

He said he will speak to the BC Ferries board to outline the province’s expectations for all executives at Crown corporations.

“While BC Ferries isn’t a Crown corporation, they do receive provincial government funding and we would expect them to follow suit,” Stone said. “Government is tightening its belt, along with many British Columbians, and I believe that BC Ferries should take the same approach.”

Simons, however, said the BC Liberals have had plenty of time to act.

“Four ministers in a row have been saying how disappointed or disturbed or shocked they are when they see this exorbitant compensation,” Simons said. “The reality is they’ve done nothing about it.”

The Powell-River Sunshine Coast MLA said his constituents are apoplectic because they’re ferry-dependent and have seen fares rise on average 75 per cent over the last 10 years.

BC Ferries has reduced its executive by almost half and cut their overall salaries by more than 50 per cent, Stone noted.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Victoria Police Department vehicles outside the headquarters building. (Black Press Media file photo)
Victoria police investigating sudden death in Beacon Hill Park

Police, paramedics responded to a report of an unresponsive person early Wednesday

Victoria’s Swartz Bay terminal. (Black Press Media file photo)
BC Ferries offers cheaper, prepaid fare options

Ferry service preparing for busy terminals when travel restrictions are lifted

Dozens of reports of sexualized violence against a former employee of downtown Victoria restaurant Chuck’s Burger Bar were posted online in January. A police investigation is ongoing. (Nina Grossman/News Staff)
Chuck’s Burger Bar closes its doors after sexual assault allegations

Victoria police investigating reports of sexual misconduct, assault by former restaurant employee

The application proposing to rezone Western Speedway was passed by Langford’s planning, zoning and affordable housing committee Feb 8. A petition has since been started by residents of Trudie Terrace, hoping to stop the proposed residential portion of the development plan. (CBRE Victoria)
Petition opposing Western Speedway development proposal gains steam

Save Thetis Heights Neighborhood petition aims to stop extension of Trudie Terrace

This dead fir tree is one of many in Mount Douglas Park. Nine dead trees will be removed from the Douglas Creek site starting March 8 to make way for the construction of a new pedestrian bridge. (Photo courtesy Jason Clarke)
Nine dead, hazardous trees to be removed from Saanich park ahead of bridge construction

Felling begins March 8, minor trail interruptions expected in Mount Douglas Park

COVID-19 vaccines were available at a site on East Pender in Vancouver’s Downtown Eastside Feb. 25. (Twitter/Sarahblyth17)
Vancouver’s Downtown Eastside residents offered $5 after getting COVID-19 vaccine

It’s an effort to ‘incentivize people to engage,’ says B.C. Health Minister Adrian Dix

(Black Press Media files)
B.C. teacher transferred then suspended after students report feeling ‘scared, nervous’

Authorities found that teacher did not create inviting, respectful environment for students

FILE - Dolly Parton arrives at the 61st annual Grammy Awards on Feb. 10, 2019, in Los Angeles. The Grammy-winning singer, actor and humanitarian posted a video on Tuesday, March 2, 2021, of her singing just before getting her COVID-19 vaccine shot. Parton donated $1 million to Vanderbilt University Medical Center in Nashville, Tennessee for coronavirus research. (Photo by Jordan Strauss/Invision/AP, File)
‘Vaccine, vaccine’: Dolly sings ‘Jolene’ rewrite before shot

The Grammy-winning legend turned 75 this year

Deputy Prime Minister and Minister of Finance Chrystia Freeland speaks about the Fiscal update during a news conference in Ottawa, Monday November 30, 2020. THE CANADIAN PRESS/Adrian Wyld
COVID-19: Wage and rent subsidies, lockdown support to be extended until June

Chrystia Freeland says now is not time to lower levels of support

Older rental apartments are prime candidates for renovations, and could result in lost affordable housing stock. (Zoë Ducklow photo)
B.C.’s renoviction overhaul a good start, but won’t preserve affordable stock, lawyer says

And still no protection for people who can’t pay rent due to COVID-19

(Photo by Marissa Baecker/Shoot the Breeze)
B.C. WHL teams to hit the ice with Kelowna, Kamloops hub cities

Kelowna, Kamloops centres chosen to host B.C. WHL teams for 24-game regular season

The victim of the homicide on Cowichan Lake Road early Monday morning was 17 years old, and was stabbed in the incident. (Kevin Rothbauer/Citizen)
Duncan homicide victim was 17 years old

RCMP report that teenager was stabbed

Most Read