Nfld. & Labrador

Nalcor reveals executive pay packets

Nalcor Energy president and CEO Ed Martin's salary exceeded $565,000 in 2010, but the Crown corporation says that compares favourably to other energy firms.

CEO's salary topped out at $565K in 2010; less than compensation level at similar companies

Nalcor CEO Ed Martin, seen in 2010, made $565,000 that year, according to the Crown corporation. (CBC)

Nalcor Energy president and CEO Ed Martin's salary exceeded $565,000 in 2010, according to information released Monday by the Crown corporation.

Nalcor paid Martin and eight company vice-presidents a total of roughly $2.3 million. The vice-presidents' pay ranged from $205,000 to $285,000.

Those salary figures are comprised of both base pay and other compensation, including things like performance bonuses and car allowances.

Nalcor officials stressed that the numbers compare favourably to those for top executives at similar energy companies.

Emera, the Nova Scotia company that's partnering with Nalcor to develop Muskrat Falls, top executive Chris Huskilson received $625,000 in base salary the same year. But when bonuses and stocks were added, Huskilson's compensation jumped to $2.9 million.

Nalcor released its executive salary details to all media outlets after receiving a request by one news organization.