Statement from Ontario PC Energy Critic Todd Smith on the Sunshine List

“Today the Wynne Liberals will release the Sunshine List, after trying to hold off on yet another bad news story for as long as possible.

“The release of the Sunshine List comes at a time when executive salaries are hitting astronomical new highs. The CEO of Hydro One earned a total of $4.5 million, and in total, the top five executives at Hydro One made a whopping $11 million.

“Unfortunately this year’s Sunshine List doesn’t paint the full story. We only know these five executive salaries at Hydro One. That’s it. We have no way to know how big the Wynne Liberals have made the Millionaires Club at Hydro One because they’ve buried all of the other salaries in secrecy. The Ontario PC Party has repeatedly called on Premier Wynne to put executive salaries back onto the Sunshine List, but it’s evident she’s not going to listen. 

“If this Liberal government is unwilling to introduce checks and balances into the system to rein in executive pay hikes, an Ontario PC government will.”    

Background:

Total compensation for the top five executives at Hydro One for 2016:

  • Mayo Schmidt, President and CEO – $4.484,053
  • Michael Vels, CFO – $1,699,314
  • Gregory Kiraly, COO – $1,416,967
  • Ferio Pugliese, EVP, Customer Care and Corporate Affairs – $2,872,346
  • James Scarlett, EVP and Chief Legal Officer – $1,242,075

According to most recent figures, the CEO of BC Hydro earned $489,911, the CEO of SaskPower earned $434,189, Manitoba Hydro’s CEO made 494,909, and the CEO of Hydro-Québec is paid $480,000.

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