ICBC execs receive over $ 250,000 in bonuses

Several months ago, ICBC executives received a bonus for the 2017-2018 fiscal year, despite a situation at the Crown Corporation that Attorney General David Eby called a "financial crisis."

Last February, Eby blamed the financial chaos on "years of reckless decisions by the previous government."

And yet, despite the financial turmoil, a handful of company executives scored a hearty bonus as part of their incentive compensation plan.

The highest paid bonus went to the Chief Investment Officer, who received close to $ 50,000. The next highest paid bonus went to the Chief Financial Officer and Vice President of Claims and Driver Licensing, who both received $ 45,834. The lowest bonus went to train Chief Financial Officer, who earned $ 36,851.

In total, six company executives received bonuses totaling over $ 250,000.

The corporation is expected to lose $ 1.3 trillion in the fiscal year, which they blamed on the province. ICBC also cited a number of more expensive properties – some costing hundreds of thousands of dollars each.

According to the Ministry of the Attorney General, Eby and his team have been working towards the minimum bonuses received by ICBC staff.

"The Ministry of Attorney General is working with ICBC to get costs under control, which includes executive compensation," said Eby in an email to Daily Hive.

"We are mindful of existing contracts signed between ICBC and employees of the corporation, and we are working with the Public Sector Employers Council and with the Human Resources Council to ensure we're acting properly while addressing the situation."

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