BC Ferries director compensation slashed

British Columbia Ferries Services Inc. appears to have lowered the compensation for their board members. The change follows an amendment to the Coastal Ferry Act which required them to be paid "in an amount and manner consistent with provincial public sector organizations in British Columbia." In fiscal 2009/10, directors received a $48,000 annual fee, as well as meeting fees of $1,500 or $750 "when the meeting was undertaken by teleconference and ran for 2 hours or less." That, in combination with committee chair fees, meant their total compensation ranged between $67,500 and $78,246. But, as of October, that compensation was dramatically cut.

Directors now receive an annual retainer of between $25,000 and $33,000, while earning meeting fees of $1,200 or $600 "for a short meeting, as determined by the Board Chair." This information comes from a document quietly posted on the B.C. Ferry Authority Website.

That same document also shows the chair's pay has also been reduced. The following is a complete copy of the directors' compensation structure before and after those changes.

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Directors' compensation (fiscal 2009/10)

Annual fees

Board chair - $140,000
Members - $48,000

Additional fees

Audit and finance committee chair - $15,000
Other committee chairs - $10,000
Committee members - $3,000

Meeting fees

$1,500 or $750

Directors' compensation (after October 1, 2010)

Annual fees

Board chair - $100,000
Members - $25,000

Additional fees

Vice chair - $8,000
Audit and finance committee chair - $8,000
Other committee chairs - $5,000
Committee members - $3,000

Meeting fees

$1,200 or $600

2 Comments

Now next step on with Department Heads, Deputy Ministers,Crown Corporation Executives and all other Government Agencies none of them are worth what they are getting paid.

So is Hahn's pay going down? I thought not. Getting on such a board is a nice amount of cash for the work they do. The routes are set, the boats are bought and the collective agreements are in place. where do I sign up?

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