It won’t be a complete picture without comparing Canadian second largest airliner WestJet with Air Canada. Bear in mind, though, WestJet operates mainly in North America whereas Air Canada operates globally. However, WestJet may one day expand its operation to worldwide.
** The total amount of remuneration received by the Corporation’s five highest paid Executives in 2010, not including Mr. Durfy, was $6,803,712.
Sean Durfy – Former President and Chief Executive Officer
Effective April 1, 2010, Mr. Durfy ceased his role as President, CEO and Director of WestJet.
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
131,918 |
936,250 |
0 |
0 |
2,070,084 |
3,138,252 |
| 2009 |
535,000 |
936,250 |
401,250 |
218,922 |
107,000 |
2,198,422 |
| 2008 |
500,000 |
875,000 |
375,000 |
871,000 |
100,000 |
2,721,000 |
| Compensation Actually Paid in 2010 |
| 2010 |
131,918 |
2,897,682 |
145,049 |
190,937 |
2,070,084 |
5,435,670 |
| 2009 |
535,000 |
0 |
0 |
842,007 |
107,000 |
1,484,007 |
| 2008 |
500,000 |
0 |
72,054 |
457,798 |
100,000 |
1,129,852 |
Gregg Saretsky – Current President and Chief Executive Officer
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
450,274 |
1,251,772 |
397,313 |
437,738 |
90,055 |
2,627,152 |
| 2009 |
169,807 |
74,375 |
131,140 |
28,893 |
117,914 |
522,129 |
| Compensation Actually Paid in 2010 |
| 2010 |
450,274 |
0 |
0 |
44,551 |
192,098 |
686,923 |
| 2009 |
169,807 |
0 |
0 |
3,684 |
17,914 |
191,405 |
Vito Culmone – Executive Vice-President, Finance and Chief Financial Officer
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
340,000 |
297,500 |
127,500 |
211,140 |
68,000 |
1,044,140 |
| 2009 |
340,000 |
297,500 |
127,500 |
72,862 |
68,000 |
905,862 |
| 2008 |
325,000 |
284,398 |
121,877 |
205,790 |
199,378 |
1,136,443 |
| Compensation Actually Paid in 2010 |
| 2010 |
340,000 |
67,563 |
0 |
69,989 |
68,000 |
545,552 |
| 2009 |
340,000 |
0 |
0 |
185,978 |
68,000 |
593,978 |
| 2008 |
325,000 |
0 |
0 |
188,487 |
199,378 |
712,865 |
Robert Cummings – Executive Vice-President, Sales, Marketing and Guest Experience
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
340,000 |
297,500 |
127,500 |
211,140 |
68,000 |
1,044,140 |
| 2009 |
340,000 |
297,500 |
127,500 |
72,862 |
68,000 |
905,862 |
| 2008 |
310,000 |
271,269 |
116,255 |
196,292 |
62,000 |
955,816 |
| Compensation Actually Paid in 2010 |
| 2010 |
340,000 |
81,080 |
42,804 |
70,296 |
68,000 |
602,180 |
| 2009 |
340,000 |
0 |
0 |
178,893 |
68,000 |
586,893 |
| 2008 |
310,000 |
0 |
0 |
166,557 |
62,000 |
538,557 |
Dr. Hugh Dunleavy – Executive Vice-President, Strategy and Planning
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
340,000 |
297,500 |
127,500 |
211,140 |
68,000 |
1,044,140 |
| 2009 |
340,000 |
297,500 |
127,500 |
72,862 |
68,000 |
905,862 |
| 2008 |
310,000 |
271,269 |
116,255 |
196,292 |
62,000 |
955,816 |
| Compensation Actually Paid in 2010 |
| 2010 |
340,000 |
81,080 |
36,772 |
70,296 |
68,000 |
596,148 |
| 2009 |
340,000 |
0 |
5,921 |
178,893 |
68,000 |
592,814 |
| 2008 |
310,000 |
0 |
0 |
166,510 |
62,000 |
538,510 |
Ferio Pugliese – Executive Vice-President, People and Culture
| Year |
Salary ($) |
Share Awards ($) |
Option Awards ($) |
Incentive ($) |
Other ($) |
Total |
| Compensation Granted in 2010 (can be paid in future, if not paid in 2010) |
| 2010 |
340,000 |
297,500 |
127,500 |
211,140 |
68,000 |
1,044,140 |
| 2009 |
340,000 |
297,500 |
127,500 |
72,862 |
68,000 |
905,862 |
| 2008 |
281,846 |
249,417 |
114,381 |
180,462 |
146,369 |
972,475 |
| Compensation Actually Paid in 2010 |
| 2010 |
340,000 |
49,969 |
0 |
70,156 |
68,000 |
528,125 |
| 2009 |
340,000 |
0 |
0 |
166,325 |
68,000 |
574,325 |
| 2008 |
281,846 |
0 |
0 |
117,369 |
146,369 |
545,584 |
Reference: WESTJET NOTICE OF 2011 ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS OF COMMON VOTING SHARES AND VARIABLE VOTING SHARES
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Tags: CEO, CFO, Chief Executive Officer, Chief Financial Officer, Executive Vice-President, Ferio Pugliese, Gregg Saretsky, Hugh Dunleavy, President, Robert Cummings, Sean Durfy, Vice-President, Vito Culmone, WestJet
I agree westjet is not really a comparable operation. I would be interested in seeing an executive comp analysis featuring AC, United, American, Delta, and US Air. I was thinking of other flag carriers like Qantas, Singapore, Lufthansa, etc, but the comparison would be difficult given the very different geographies and home economies.
Thanks