FIGURE 6-1: P ublicly Disclosed CEO Base Salary Reductions by TSX-Listed Issuers (as of July 20, 2020)
As of June 20, 2020, studies found that only 51 of over 1,600 issuers listed on the TSX had publicly announced changes to their pay practices in response to COVID-19. Studies show that the majority of CEOs among those issuers that reduced compensation temporarily cut their salaries between 20% and 50%.
Percent of Total Base Salary
25
22%
20%
20
18%
18%
14%
15
10
8%
5
2%
0
0-20%
20% 20-50% 50%
50-100%
100%
% Not disclosed
Source: Hugessen Consulting 102
FIGURE 6-2: P ublicly Disclosed CEO Base Salary Reductions by Russell 3000 Index Issuers (as of August 14, 2020)
Percent of Total Base Salary
25
23%
22%
20
17%
14%
15
13%
10
8%
5
3%
0
0-20%
20% 20-50% 50%
50-100%
100% % TBD
Source: The Conference Board, Inc. 104
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Governance Insights 2020
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