Power Corporation of Canada announced that its Board of Directors has approved the appointment of Mr. Jake Lawrence as Executive Vice-President, effective March 18, 2024. Mr. Lawrence has an.
Christopher Katsarov
Power Corp. paid Paul Desmarais Jr. and André Desmarais nearly $2.9-million apiece in 2020 as the two left their co-chief executive officer roles in a reorganization.
The figures include stock-option awards of nearly $1.7-million apiece, granted a week after they left their executive jobs in February, 2020, to remain on the company’s board as chairman and deputy chairman, respectively. The awards were part of a number of sizable option grants to executives to provide multiyear incentives, including $6-million in options for new CEO Jeffrey Orr, Power said.
Power completed a restructuring last year that saw it privatize its Power Financial Corp. subsidiary, long a separate TSX-listed company. The reorganization came after years of flat stock-price returns and shareholder discontent that saw a growing number of votes withheld from the Desmarais brothers in each year’s director elections.
Power Corporation to Announce Fourth Quarter and 2020 Financial Results on March 17, 2021 newswire.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newswire.ca Daily Mail and Mail on Sunday newspapers.