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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.
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