BellemarreI agree with everyone that Bellemarre did not deserve the kind of remuneration he (will) receive for his work in the Alsthom deal. Comparisons are not fair and hard to make. If we compare the role that Bellemarre played in the last 5 years compared to Pierre Beaudoin with the compensation that they both received, Alain Bellemarre would have the right to scream that he has been screwed!! After all those years, I am still trying to figure out what was Pierre's role in this organization.
I do not share some people's view that Bellemarre did a poor job with Bombardier. In my view, it is thanks to him if BBD is still alive. There are different types of leaders with very different types of skills to manage an organization, depending of the situation. You have the normal day to day manager and you have the crisis manager. One type of manager is not necessarily good to lead an organization that is not in a situation that requires their skills.
For those who are of my age would remember Lee Iacocca with Chrysler between 1978 and 1992. This man did miracles to save Chrysler from bankruptcy in the mid-eighties. This guy was a tough cookie and did whatever he had to do without a blink to save the organization. This same guy leading a healthy organization would probably not do so much.
Take the time to look at Bellemarre and what he did for BBD. When he came on board, BBD was a walking dead crumbling under debts, no one seemed to know where the organization was going we had closet full of squelettons and losers that were not going anywhere and the organization was bleeding money like it's hard to believe. On top of that we were all a bunch of people madly in love with the C-Series which was an incredible technical success but a deplorable financial fiasco.
Bellemarre had to fight against BBD executives and us shareholders to bring reality back on board. Bellemarre had the vision that C-Series was a beauty...but with a terminal cancer. And just imagine where BBD would be today with the Covid-19 and C-Series, still looking for the money required to pay employees and suppliers and entertaining order cancellations probably every week.
It may be just luck that he convinced his bosses to cut the gangrenous arm before the whole body would be dead. An amputation is always painful when it happens to a loved one but sometimes it is necessary. Amen.
Look at the bright side. BBD is still there and alive to pay his fat bonus.