TSX:LSG.DB - Post by User
Comment by
imerc23on Apr 22, 2013 8:11pm
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Post# 21286278
RE: RE: Is the CEO OVERPAID? eom
RE: RE: Is the CEO OVERPAID? eom Is Tony overpaid? According to the Mgmt Information Circular that was just issued, his 2012 Total Compensation came to over $1.8 million. Sounds pretty sweet to me. Someone's making money out of this mine, but it ain't you or me. At least Tony had the decency to decline his bonus.
Actually, I'm even more concerned about LSG's Board of Directors than I am about Tony. They were all prepared to award Tony a bonus of $184K (on top of the $1.8 million) because of what a swell job he did in 2012. And take a look at pages 21-22 of the M.I.C. -- when the Board tried to figure out what would be "fair compensation" to pay Tony, as part of their "Market Benchmarking" they considered the salaries paid by B2Gold, Barrick, Cameco, De Beers, Goldcorp, IAMGOLD, Kinross, Potash Canada, SNC-Lavalin, Teck Resources .... Does this Board of Directors have cotton candy between the ears? Or are they just serving as pet rocks? I don't feel much hope for future of LSG if these are the Directors who are supposed to be the watchdogs who are protecting the interests of shareholders.