The five senior executives of the Metro chain saw their total compensation drop slightly in 2024, when they received $14.1 million, or $1.5 million less than in 2023.
• Also read: Profits of $220 million for Metro
Big boss Eric La Flèche received $6.1 million in total, a decrease of 0.2% compared to 2023, indicates the management circular. His annual bonus has not changed either, at $1.45 million.
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The chief financial officer, François Thibault, received $1.9 million, or $100,000 less than in 2023.
Two other senior executives saw their total compensation drop by 18% and 32%, because they did not receive special grants this year, unlike last year.
The company, which owns the Metro, Super C, Adonis, Première Moisson, Jean Coutu and Brunet brands, “reached or exceeded the target for its corporate objectives” for the 2024 financial year which ended on September 28, she indicates in the executive summary of her circular.
As a result, the annual bonuses of senior executives remained at the same level as last year and stood at $3.63 million compared to $3.69 million in 2023.
Metro's profits approached $1 billion in fiscal 2024, the results of which were announced in November. At $931.7 million, this is still a drop of 8.5% compared to 2023.
As its supply chain modernization program is now complete, Metro indicates, profits should start to rise again shortly.
Its new automated distribution center for fresh products in Toronto has just been inaugurated, following the launch of its automated distribution center for fresh and frozen products in Terrebonne.
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