Former SNC-Lavalin CEO won $ 7 million in 2019 for 5 months of work

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MONTREAL – Former CEO of SNC-Lavalin Group Inc., Neil Bruce, earned $ 7 million in 2019, even though his term ended less than half of the year.

The company’s proxy circular indicates that Bruce, who ceded first place to Ian Edwards in June, received a base salary of $ 1.3 million.

He also cashed in $ 4.2 million in share-based awards, a bonus of approximately $ 670,000 and “other compensation” of $ 891,000.

The latter includes half a million dollars in reimbursement fees to cover Bruce’s move from Montreal to the United Kingdom to join his family when he resigned, apart from a place on the board of directors he held until ‘at the end of the year.

The document indicates that Bruce, whose total compensation was $ 5.4 million in 2018, “received no severance pay following his retirement”, adding that his contract had been modified on June 11 at the following the redesign of the head office that day.

Bruce’s departure 10 months ago ended an almost four-year term as head of SNC-Lavalin, which was marked by a 42% drop in the share price and a political controversy linked to a corruption case now resolved.



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