The Contract
Action Team would like to share information on Chief Executive Officer (CEO)
Compensation at Algoma Steel. The table below shows the CEO compensation from
2001 to 2006 and covers the current and previous CEO.
|
2001 |
2002 |
2003 |
2004 |
2005 |
2006 | |
|
CEO
wages |
487,500 |
435,000 |
432,000 |
503,687 |
515,000 |
525,000 |
|
shares |
127,846 |
233,477 |
100,000 |
6,139,906 |
212,940 | |
|
bonus |
30,000 |
/ |
910,600 |
933,740 | ||
|
other
compensation |
12,000 |
137,000 |
12,000 |
12,000 | ||
|
TOTAL CEO
$ |
$487,500 |
$435,000 |
$474,000 |
$640,687 |
$1,437,600 |
$1,896,620 |
|
Workers
costs |
30% |
25% |
23% |
25% |
22% |
24% |
|
Increase from
2001 |
$1,409,120 |
Increase in CEO
compensation 2001 to 2006 |
289% |
Excluded from the
above table is any bonus or bonuses received for the sale or merger of the
company nor does it include any cash received from the sale of shares. Also, in
an article by a Steel Industry report there was a table that showed Steel
Executive Compensation for 2006. There was a table that compared all the CEO’s
in North America. There was a total of 22 Steel Company CEO’s being compared.
Our CEO, at Algoma, had the 2nd highest bonus percentage increase at
124% !!
IT’S
ONLY
FAIR
WE
GET
OUR
SHARE!
’07
GAINS FOR PAST PAIN$