BC Ferries advisor quits over executive payouts
Posted: Jul 4, 2012 1:48 PM PT
Last Updated: Jul 4, 2012 4:17 PM PT
A long-time member of the BC Ferries Advisory Committee on Denman Island has resigned, saying he's fed up seeing executives pocket huge bonuses while demanding the public pay more for less service.
Dennis Forsyth says the final straw fell last Friday, when BC Ferries released statements showing senior executives once again pulling in million-dollar salaries and bonuses.
"The top executives in BC Ferries were behaving hypocritically in taking large bonuses at a time when everybody else in all these small communities is suffering."
Forsyth notes BC Ferries is proposing a cable ferry for Denman Island in the interests of fiscal responsibility, which he says will mean a loss of jobs in a community that needs them.
He says his years as a volunteer have taught him the company's top brass simply isn't listening to critics, so he's quit his advisory role in protest.
But BC Ferries chair Donald Hayes says the big pay cheques for the CEO are necessary because the provincially-owned corporation needs strong leadership in difficult times.
The corporation recently announced ridership is at a 21-year low, saying the company lost more than $16 million last year and would look at cutting some late-night sailings to save money.
Despite the setbacks, BC Ferries paid out big bonuses to senior executives this past year, with former CEO David Hahn once again topping $1.1 million in salary, bonuses and pension payments, while his successor, Mike Corrigan, made more than $900,000, including a one-time payout from an incentive plan that's been eliminated.
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