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In a comment posted on its website explaining its vote, the Caisse denounced the changes that Bombardier made to its policy in February 2020, following the sale of its rail division to Alstom. These changes had the effect of increasing the bonuses and severance pay paid to certain senior executives, including former CEO Alain Bellemare.

“These elements of compensation are considered excessive,” ruled the Fund.

Recall that Mr. Bellemare was entitled to a “departure arrangement” of $ 16 million when he was shown the door in March 2020, while two other former executives, David Coleal and John Di Bert, left with 3 , $ 4 and $ 4 million respectively. Another, Steeve Robitaille, left in December with an unknown sum.

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