2023-06-13 20:52:50
The CEO of Saputo, Lino Saputo Junior, and three other executives of the Quebec company saw their compensation increase significantly last year.
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Mr. Saputo earned $5.14 million in the fiscal year that ended March 31, a regulatory document filed last week shows. This is three times more than the compensation of $ 1.63 million he received the previous year and 18% more than in 2020-2021.
The big boss was notably entitled to an annual bonus of $ 3.4 million when he had received nothing in this regard in 2021-2022.
The chief financial officer, Maxime Therrien, received $5.15 million last year, or 30% more than the previous year.
North America chief operating officer Carl Colizza earned even more: He took home $6.22 million last year, up 31% from 2021-22.
Finally, the head of human resources, Gaétane Wagner, received $4.33 million last year, or 4.8% more than the previous year.
Rising revenues and profits
During 2022-2023, Saputo saw its net profits jump 127% to reach $622 million on sales of $17.8 billion, up 19%.
On the Toronto Stock Exchange, Saputo’s stock has risen regarding 17% over the past 52 weeks.
However, the stock fell sharply last week due to the recent deterioration in market conditions.
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