Chairman and CEO of Laurentian Bank, Réjean Robitaille, received a remuneration of $ 2,236,347 in 2010, according to the circular direction made public to the meeting of shareholders.
This is an increase of 15%, compared to $ 1,944,884 he earned in 2009. Réjean Robitaille, however, had received slightly more in 2008, $ 2,288,279.
The second member of the highest paid executive in 2010 is François Desjardins, senior vice president and president and CEO of B2B Trust. He earned $ 1,179,866, up 74% from last year. The increase was 9% excluding the special allocation of $ 319,000 in 2010 to regularize the situation surrounding its hosting in Toronto and traveling between Montreal and Toronto for the period from July 2004 to April 2010 .
In the circular direction, we also learn that the Laurentian Bank offers a new application with respect to the composition of the board of directors in 2009. They are Pierre Anctil, 51, president and CEO of Fiera Axium Infrastructure. The fixed annual remuneration of directors increases to $ 60 000, up 14%.
The financial institution also recommends that shareholders oppose the proposals made by the Movement for education and defense of shareholders (MÉDAC) and Northwest & Ethical Investments, if the meeting was actually seized. These concern the supervision of executive compensation and the minimal presence of women on the board.
Laurentian Bank will hold its annual shareholders meeting in Montreal, at Centre Pierre-Péladeau, March 15, 2011 at 9 am 30. Here is the link to view the proxy circular.