(Montreal) The total compensation of the six most senior executives of the Caisse de dépôt et placement du Québec (CDPQ) was established at the equivalent of 18.2 million, taking into account compensatory payments and currency conversion.
This information appears in its most recent annual report, which was tabled in the National Assembly on Tuesday.
The total compensation of President and CEO Charles Émond reached $4.2 million in 2022, which represents a decrease of 4.86% compared to last year.
This decrease does not take into account the end of the payment of the compensatory amount linked to the hiring of Mr. Émond in 2019. The last payment of 1.8 million was made in 2021.
For the five most senior executives still in office, total compensation decreased by 4.48% compared to last year, without taking into account the variation in currencies and compensation amounts.
The decrease in compensation is partly explained by the decrease in the absolute returns of the Fund, which posted a negative return of 5.6% in 2022.
This negative return occurs in a difficult stock market environment. The institution, however, stood out compared to the performance of its peers in 2021 and 2022, said spokesperson Maxime Chagnon, in an interview. “We had a negative return of 5.6% in 2022, but that compares with an average return of negative 8.4%, if we take about forty institutional funds around the world. »