Rogers CEO Nadir Mohamed entitled to $18.5M package when he leaves in 2014
TORONTO – Nadir Mohamed, the outgoing CEO and president at Rogers Communications Inc. (TSX:RCI.A), is entitled to a retirement package worth $18.5 million when he leaves the telecom giant next year.
In documents filed late Thursday to securities regulators, Rogers says the package includes $5.5 million in cash, nearly $6.2 million in stock options and $6.8 million in restricted share units, which are non-transferable company stock.
The proxy circular also says the pension value of the package is $2.07 million less due to Mohamed’s retirement.
It also notes that Mohamed has also agreed to a non-compete clause for 12 months from the date he steps down.
Last month, Rogers announced that Mohamed was leaving in January 2014, but would continue to lead the company through 2013.
He joined Rogers in August 2000 and became CEO in March 2009.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community? Create a free account to comment on stories, ask questions, and join meaningful discussions on our new site.
Leave a Reply
You must be logged in to post a comment.