Montrusco Bolton: The Canary in the Coal Mine Montrusco Bolton Investments not supporting Concordia Healthcare Corp Compensation Committee
MONTREAL, April 20, 2016 /PRNewswire/ - Montrusco Bolton Investments (MBI) has reviewed the 2015 compensation of Concordia Healthcare Corp's executive team. Based on an ISS report and our in-house assessment, we are of the view that the total compensation of senior executives is exorbitant.
MBI agrees with ISS that the lack of transparency regarding how compensation is determined, combined with the CEO's exceedingly high annual increase in compensation, and other issues are serious matters for shareholders.
In addition, MBI is of the view that Concordia Healthcare Corp stock unit plans' vesting periods are too short and do not provide sufficient alignment between senior executives and long-term shareholders.
For the aforementioned reasons, MBI will withhold its votes for two directors of the compensation committee seeking re-election - Jordan Kupinsky and Douglas Deeth.