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Top Bell Executives Earn Millions in Bonuses Amid Financial Challenges • Phones Canada News

Bell CEO Mirko Bibic was recently granted a compensation package of $13.43 million, including a $2.96 million annual bonus, despite the company falling short of its 2023 financial targets. This news comes as Bell also announced significant job cuts and increased dividend payouts to shareholders.

In addition to Bibic, retiring president of Bell Media, Wade Oosterman, and three other executives received substantial bonuses as part of their multi-million-dollar compensation packages.

Although Bell reported missing its financial goals slightly in terms of revenue, free cash flow, and EBITDA, the company defended its executive compensation policy as necessary to attract and retain top leadership talent.

The adjustment in Bibic’s total compensation was aimed at remaining competitive in the market, with his stock-award value increasing to $8 million. However, his overall compensation saw a slight decrease due to changes in the actuarial value of his pension.

Overall, Bell’s approach to executive compensation focuses on performance-based rewards that align with the company’s long-term strategies and financial goals. Despite recent challenges, Bell remains committed to delivering value to its shareholders while ensuring strong leadership at the helm.

Stay tuned for more updates on telecommunications industry news and insights from Phones Canada!

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