Investing.com - Financial Markets Worldwide
💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

UPDATE 1-Canadian pension funds support call for more transparency at Bombardier

Published 2016-04-26, 03:52 p/m
© Reuters. UPDATE 1-Canadian pension funds support call for more transparency at Bombardier
BBDb
-

(Adds details on CPPIB and OTPP concerns and background)
TORONTO, April 26 (Reuters) - Two of Canada's top pension
funds have come out in support of a shareholder proposal calling
for greater transparency at plane and train maker Bombardier Inc
BBDb.TO , despite a rejection of the idea by the company's
management.
Canada Pension Plan Investment Board and Ontario Teachers'
Pension Plan (OTPP) both also expressed concern with the
Quebec-based company's executive compensation structure and its
related moves to amend its deferred share unit and stock option
plans.
CPPIB, the country's largest public pension plan and one of
Bombardier's top shareholders, said on Tuesday it has concerns
with the awards granted to executives outside of the company's
normal compensation plan, as well as the lack of
performance-based awards granted under the long-term incentive
plan.
The fund said it is cautiously supporting the company's
non-binding resolution on executive pay and that it will be
"closely monitoring compensation and disclosure practices at the
company going forward."
CPPIB and OTPP have both stated they plan to vote against
proposed amendments to the company's deferred share unit and
stock option plans.
Despite the pension funds' objections and concerns expressed
by proxy advisory firms such as Institutional Shareholder
Services (ISS) and Glass Lewis, the two proposals are likely to
carry as the firm's founding family have a 53.23 percent voting
stake, largely through the 79.5 percent of Bombardier's Class A
multiple voting shares they control.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.