Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Wednesday, February 24, 2016

TD Bank CEO Bharat Masrani Got A 10% Pay Hike Amid Company-Wide Layoffs

TORONTO — TD Bank CEO Bharat Masrani was given a 10 per cent pay bump in 2015, a year when the bank laid off staff as part of a company-wide effort to trim costs.

The bank issued its management proxy circular on Tuesday, showing that Masrani was paid $9 million in total compensation.

The document says the bank's board of directors set that pay on a recommendation from its human resources committee, which considered a number of factors, including TD's performance against other banks.

Cost management has been top of mind for Canada's big banks amid concerns about slowing loan growth, weak oil prices and low interest rates.

Last October, TD confirmed reports it was eliminating jobs after a review, but it declined to say how many.

There have been reports from various media sources that several hundred employees were let go.

The bank is scheduled to release its first quarter results on Thursday.

Masrani was appointed CEO on Nov. 1, 2014.

Original Article
Source: huffingtonpost.ca/
Author: CP
Topics: , , , ,

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