RE:CSM executives bonuses@Monywise, I see where u r coming from, it is v frustrated to see these things happening in Canada or US, CSM got 30 million from the government then the executives paid themselves 3-4 million bonuses "call it corruption!", but i tell you something with increasing percentage of floating this will be fixed soon.
CSM board is involved in this one as well, I extracted the following statement from MIC, which shows how this company is being running!, over the last few years the board was determining their bonuses!!! but the statement below very alarming! They say board should not be participants in performance incentive plan, so they have decided to increase their compensation, there is something wrong in this statement.
"On March 4, 2021, the Board determined that the directors should not be participants in the Performance Incentive Plan in order to maintain their independence. As a result, the director compensation program was amended effective January 1, 2021 to change the composition of the annual retainer from a cash retainer of $90,000 ($150,000 for the Chairman of the Board) plus an award under the long-term incentive with a target value of $30,000 ($75,000 for the Chairman of the Board) to a cash retainer of $120,000 ($225,000 for the Chairman of the Board)."
The company itself is good but needs change in this corrupted management team.
Just let you know someone is watching what's happing here and days are counting down