Post by
Starsearcher80 on Oct 12, 2021 12:32pm
THIS IS WHAT A LOSING COMPANY LOOKS LIKE
From today's Globe and Mail:
The Globe and Mail reports in its Tuesday edition that Canopy Growth chief executive officer David Klein has been richly rewarded despite the company's lacklustre results. The Globe's Vanmala Subramaniam and David Milstead write that Mr. Klein received a cash bonus of $1.72 MILLION in addition to his base salary of $975,000.00 for the fiscal year ending March 31st, despite massive losses in that time period (all figures U.S.)
Canopy's proxy statemen t for fiscal 12021 showed that 50% of Mr. Klein's bonus was based on a free cash flow goal -not losing more than $850 MILLION. IN part because Canopy recorded smaller cash losses, it was deemed Mr. Klein was desrving of 140% of his target, even though it missed goals for revenue and other measures of profit.
This CEO gets a MASSIVE bonus for NOT losing more than $850 million? Good for Klein I guess. With the bar set THAT low, he'll rake in millions....well....at least for as long as the company is around. ;)
Comment by
Homestretch4me on Oct 12, 2021 12:50pm
;) ;) ;) Go get the banana! That's a Good prank monkey.