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Corus Entertainment Inc
Symbol CJR
Shares Issued 196,074,764
Close 2024-12-19 C$ 0.09
Market Cap C$ 17,646,729
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Globe says nine-cent Corus has plenty of cash for execs

2024-12-20 07:47 ET - In the News

The Globe and Mail reports in its Friday edition that as Corus struggled this year to keep itself out of insolvency proceedings and laid off over 800 people, the company paid $1.8-million in bonuses to five executives, largely based on hitting targets for cash flow. The Globe's David Milstead and Jameson Berkow write that Corus paid cash bonuses of $555,401 and $438,868, respectively, to co-chief executive officers John Gossling and Troy Reeb for the fiscal year ended Aug. 31. Jennifer Lee, an executive vice-president and chief legal officer, received $221,732. Heather Shaw, the executive chair and a member of the Shaw family, who control Corus through a voting trust, received a $227,916 bonus on top of $390,000 in salary. However, Ms. Shaw has voluntarily reduced her annual base salary to $155,000, from $625,000, and dropped out of the annual bonus plan. Ms. Shaw's total fiscal 2024 compensation of $585,916 compares with $2.41-million in fiscal 2023 and $2.92-million the year before. The company also paid a $366,670 bonus to Gregory McLelland, the former EVP and chief revenue officer, who left Aug. 31 when Corus eliminated his position. Doug Murphy, the former CEO who left June 17, received $3.85-million in severance pay.

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