A number of executives in the cannabis industry are among the highest-compensated CEOs in Canada, according to a new analysis of 2019 pay by the Ottawa think tank Centre for Policy Alternatives.
The Centre for Policy Alternatives’ report, “The Golden Cushion: CEO compensation in Canada,” by senior economist David Macdonald analyzed Canada’s 100 highest-compensated CEOs across all industries for 2019.
Macdonald found the ratio of average CEO compensation to average worker compensation in 2019 was 202-to-1.
Aphria CEO Irwin Simon’s total compensation of 18.4 million Canadian dollars ($14.2 million) in 2019 made him the highest-paid cannabis executive in Canada that year, according to Macdonald’s list.
Overall, Simon was the seventh-highest-paid executive.
Share-based awards (CA$12 million) accounted for most of the compensation, followed by nonequity incentives (CA$3.9 million) and salary (CA$2.6 million).
It is the second year in a row Simon has appeared on the top-100 list. His 2018 compensation amounted to CA$9.5 million.
Aphria, based in Leamington, Ontario, didn’t respond to a request for comment from Marijuana Business Daily.
Other cannabis industry executives