CIBC’s ‘unusual’ succession

Ex-CEO earns $16.7 million for 18 months
By Sarah Dobson
|Canadian HR Reporter|Last Updated: 05/01/2015

Concerns about rising CEO pay — for salaries and severance — have filled the headlines in the last few years, with various groups calling for greater restraint.

But CIBC raised new concerns recently when it revealed its previous president and CEO, Gerry McCaughey, was being paid $16.7 million for 18 months — even though he was no longer in charge.