24 March 2005
Pay Packet Nearly
Doubles for CPR President
The pay packet of Robert
Ritchie, president and chief executive officer at Canadian Pacific Railway Ltd., nearly doubled last
year. Mr. Ritchie collected $1.64-million in remuneration in 2004, compared with $866,897
in 2003, according to CPR's management proxy circular released yesterday.
His compensation in 2004 included a salary of $806,250 and an $800,000 bonus, compared with a $743,750
salary and $84,375 bonus in the previous year. Canada's second-largest railway reported
a $413-million profit last year, up slightly from $401-million in 2003. CP
(TSX) fell 70 cents to $42.80.
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