Pulp and Paper Canada

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CEO salary drops


April 7, 2006
By Pulp & Paper Canada

The plight of pulp and paper companies is being reflected in CEO salaries.

The plight of pulp and paper companies is being reflected in CEO salaries.

According to a report by the Montreal Gazette, Abitibi-Consolidated CEO John Weaver’s bonus underwent a substantial slashing. On top of the $1.35 million he received in salary, Weaver took in an additional $487, 688, down from the $546,750 he received in 2004. However, as the Gazette highlighted, in 2004, the company lost $36 million, a far cry from the $350 million loss it suffered in 2005.

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Weaver was also granted 425,000 additional stock options by the company’s board of directors. According to the report, this now brings his total holdings to three million stock options.


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