Saputo’s CEO, Lino Saputo Junior, and three other executives at the Quebec company saw significant increases in their compensation over the past year.
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Mr. Saputo earned $5.14 million in the fiscal year ended March 31, according to a regulatory document filed last week. That’s three times more than the $1.63 million in compensation he received the previous year and 18% more than in 2020-2021.
The big boss was specifically entitled to a $3.4 million annual bonus when he failed to receive anything in that regard in 2021-2022.
CFO Maxime Therrien was paid $5.15 million last year, up 30% year over year.
North America chief operating officer Carl Colizza made even more, taking home $6.22 million last year, up 31% from 2021-22.
Finally, HR director Gaétane Wagner received $4.33 million last year, up 4.8% year-on-year.
Increasing sales and profits
For the 2022-2023 period, Saputo saw net income increase 127% to $622 million on revenue of $17.8 billion, a 19% increase.
On the Toronto Stock Exchange, Saputo’s stock is up about 17% over the past 52 weeks.
However, the stock fell sharply last week due to the recent deterioration in market conditions.