March 28, 2013 9:00pm
Nadir Mohamed, President and Chief Executive Officer of Rogers, announced that he’ll be retiring from the company effective January 2014. At this time, “or earlier if mutually agreed,” Mohamed will rake in some serious dollars. According to the recent proxy circular it states that his total “retirement arrangement” is a whopping $18,513,164. The breakdown goes like this: $5,540,000 in cash; $6,155,967 in stock options; and $$6,817,197 in RSU’s (restricted share units).
Not a bad deal for his service to the company. Mohamed became President and CEO on March 30, 2009, but has been with Rogers since August of 2000. Rogers is currently on an “international search” to find his replacement.