Enmax’s board of directors are taking pay cuts after much criticism from the public
Posted May 20, 2011 4:16 pm.
This article is more than 5 years old.
Changes are on the way for some of Enmax’s top employees.
Last year former CEO Gary Holden took home $2.9 million in salary and bonuses and faced major criticism for lavish parties he held at his home.
The city owned utility company announced on Friday that the next CEO will receive a base salary of $1.65 million if he/she simply meets company targets but if an outstanding job is done, they could take home as much as $2.45 million.
The cuts don’t end there.
The chairman’s pay will be cut by $20,000 a year and senior staff will see a 20 pre cent decrease in pay annually.
Mayor Naheed Nenshi says it’s time for a culture shift.
“How we make is as important as the money we make and I think that that sense was starting to get diluted for a while. It’s important to regain that and I think the company has done a good job of doing so,” says Nenshi.
The board says it is in the process of hiring a new CEO and hope to make an announcement within the month.
