Shaw CEO saw his paycheck nearly double this year

The company is currently in the process of merging with Rogers

Bradley Shaw has had a good year.

According to The Globe and Mail, the company bearing his name paid Shaw $11.94 million in its 2021 fiscal year, almost double from what he made last year. That amount sat at $6.87 million.

Shaw is the executive chair and CEO of Shaw Communications.

Roughly $3.3 million of the increase came from pension accounting. His bonus was also increased to $6.12 million this year from $5.27 million last year. Shaw also received $2.88 million in stocks.

Rogers is currently in the process of buying out Shaw for roughly $26 billion. The transaction needs to be approved by Innovation, Science and Economic Canada (ISED), the Competition Bureau, and the Canadian Radio-television and Telecommunications Commission (CRTC).

The CRTC held the only public hearing into the merger last month. On the first day, Shaw said the merger was a necessity for spreading wireless services in Canada.

“By joining Rogers, we will expand and accelerate the multi-generational investments needed to close the digital divide and compete more effectively across Western Canada, while expanding competition to communities that currently have little or no choice,” he said.

A decision by the CRTC will likely come early next year.

Image credit: CRTC (screenshot)

Source: The Globe and Mail