Posted on 12/09/2014 3:51:56 AM PST by Olog-hai
Tim Hortons Inc’s chief executive will get a C$1 million ($871,460) bonus following the C$12.64 billion takeover deal by Burger King Worldwide, the Canadian coffee and donut chain said in a regulatory filing on Monday. […]
The company said the discretionary bonus for Chief Executive Officer Marc Caira was awarded due to a substantially increased workload as a result of the merger deal and strong quarterly results that beat market expectations. …
(Excerpt) Read more at reuters.com ...
Canada’s patrimony is only worth 12 billion dollars?
Not my concern. It’s their business and their money. It’s the stockholders they have to answer to......
They can afford it because they raised the price of their coffee over 100%. They make good coffee...I used to buy it online for around $7 for 12 oz...now it’s $15 for 12 oz. Needless to say we don’t drink Tim Horton’s coffee anymore.
They say it’s the cost of beans, but none of the others who use the same beans have had their prices soar.
That bonus is embarrassingly low for a deal of that magnitude. Believe me, that is a warning that prospective CEOs might not want to work in Canada.
The BK CEO who is taking over is staying in the USA.
“a substantially increased workload”
Welcome to American labor!
But I appreciate the way the Canadian gets “appreciated”.
That there is unAmerican.
Wow, the Canadian dollar has really dropped when I wasn’t looking.
Tim may come back from the dead and cross-check them for that.
Good for them. Hopefully they will put Tim Horton’s coffee in Burger Kings.
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