Canada’s largest pension fund manager and Alberta fund oppose Bombardier pay policy
MONTREAL — The Canada Pension Plan Investment Board and Alberta Investment Management Corp. have joined several large institutional investors in withholding support for the re-election of Bombardier’s executive chairman and opposing the company’s executive compensation plan.
The CPPIB, which manages Canada’s largest retirement fund, is withholding its vote for Pierre Beaudoin and two other director nominees recommended by the board of the Montreal-based firm.
It’s also voting against Bombardier’s executive compensation proposal, according to a tally posted on the CPPIB website as part of its routine disclosure of its voting intentions.
AIMCo said it will withhold its vote from five non-independent directors excluding CEO Alain Bellemare and members of the compensation committee.