Description: Fresh off his appearance with other grocery chain executives in front of a parliamentary committee examining food prices, comes news that Loblaw’s Galen Weston received $8.4 million in remuneration of various types in 2022. While this is up from $5.4 million in 2021, Catherine Thomas, speaking for Loblaws in defense of the move, noted that the increased amount “reflects the fact that in 2021 he transitioned back to Loblaw full-time mid-year.” It could be fascinating to see if the raise gains any traction with Canadian consumers fed up with the rising costs of food in this inflationary cycle.
Date: April 5, 2023
1) How do you respond when your hear about CEO pay?
2) Have you ever had a class where you had some discussion about setting pay for CEOs? If so, how did the discussion go?
3) On page 2-5 of Wiley’s Managerial Accounting: Tools for Business Decision-Making we learn about the differences between product costs and period costs. In which of these categories would you place a CEO’s compensation?