Many B.C. Crown corporation CEOs paid above 'cap'
Last Updated: Tuesday, November 17, 2009 | 6:28 PM ET
CBC News
The CEO of the crown corporation that manages BC Place is the highest paid in the province, according to an auditor general's report. (CBC)B.C.'s auditor general says the government needs to keep a tighter rein on the rules surrounding salaries for Crown corporation executives, over half of whom are paid more than the salary cap set by the government of premier Gordon Campbell.
In a report released Tuesday, John Doyle said 54 per cent of the 24 CEOs make more than the limit because they were in their jobs before the cap was set.
The minister responsible for executive compensation, Moira Stilwell, said the salary cap is a work in progress.
"There are executives in place who are doing great work for the public sector who were there prior to the caps," Stilwell said in Victoria.
"As those positions roll over, those caps will become hard caps. It makes sense that it will take a few years for the policy to become practice."
Top CEO makes $600,000
Doyle's report also showed four crown corporation CEOs making more than $500,000 a year, including the presidents of BC Hydro, the B.C. Securities Commission and Partnerships BC.
At the top of the list is the CEO of the BC Pavilion Corp., Warren Buckley, with total compensation of just under $600,000 a year. The corporation manages the Vancouver Convention Centre and BC Place.
The auditor general doesn't comment on the fairness of the salary levels but said the government must do more to ensure its executive compensation policies are followed.
Doyle said some B.C. Crown corporation CEOs are appointed for indefinite terms and some did not have a clear link between performance targets and executive pay.
His report comes less than two weeks after a report by the province's comptroller general said the $1-million annual salary paid to BC Ferries chief David Hahn is almost double that of most Crown executives.
BC Ferries is a former Crown corporation and, therefore, was not included in Doyle's report.
With files from The Canadian Press
