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Bombardier confirms delaying executive salary rises amid crisis

4th Apr 17 8:07 am

CEO makes statement

Alain Bellemare, Bombardier’s chief executive officer, has requested that the Bombardier Board of Directors defer the payment of more than half of the total planned 2016 compensation for its six named executive officers until 2020.

“Bombardier is extremely proud of its Quebec heritage. We are, and will always be, extremely grateful for Quebec’s and Canada’s strong support over many years. With this support, we are competing and winning in the global market with world-class planes and trains designed and built here at home,” Bellmere said.

“Over the past seventy-five years, our fellow citizens have always been by our side. It is because of this deep relationship that we are sensitive to the public reaction to our executive compensation practices.

“To address these concerns, I’ve asked our Board of Directors to defer the payment of more than 50% of the total planned 2016 executive compensation for our six named executive officers to 2020. This compensation will only be payable if we achieve our performance objectives; delivering value to all our shareholders, including the people of Quebec and Canada.”

Bombardier is the world’s leading manufacturer of both planes and trains. Looking far ahead while delivering today, Bombardier is evolving mobility worldwide by answering the call for more efficient, sustainable and enjoyable transportation everywhere.

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