Item - 2018.EX30.10
Tracking Status
- This item was considered by Executive Committee on January 24, 2018. The Executive Committee has referred this item to an official or other body without making a decision. Consult the text of the decision for further information on the referral.
EX30.10 - Toronto Hydro Corporation Review of Executive Compensation Policy
- Decision Type:
- ACTION
- Status:
- Referred
- Wards:
- All
Confidential Attachment - The security of the property of the City or local board and personal information about identifiable individuals.
Committee Decision
That Executive Committee:
1. Referred the item back to the City Manager with the request that he:
a. Review the executive compensation policy at Toronto Hydro and report back to the Executive Committee with recommendations on an appropriate salary and compensation cap, which will limit compensation, for all new executives hired by the Corporation.
b. Request the Toronto Hydro Board of Directors to review current executive compensation packages and bonusing policies at Toronto Hydro to assess opportunities, respecting the provisions of currently existing contracts, to bring compensation inline with other City policies.
c. Compare the executive salaries and compensation with similar corporations in other municipalities across Canada and report back to the Executive Committee.
d. Consult with the City Solicitor and Toronto Hydro to determine what parts of the information, if any, contained in the confidential attachments can be publicly released.
Decision Advice and Other Information
The Executive Committee recessed its public session to meet in closed session as the item relates to the security of property of the municipality or local board and personal information about identifiable individuals.
Origin
Summary
This report recommends the receipt of Toronto Hydro Corporation's Executive Compensation Policy. This is in response to City Council's direction in 2016 for the Board of Toronto Hydro Corporation to review its senior executive compensation policy and incorporate the guiding principles for executive compensation at agencies and corporations established in 2014.
Background Information
https://www.toronto.ca/legdocs/mmis/2018/ex/bgrd/backgroundfile-110723.pdf
Confidential Attachment 1 - Toronto Hydro Corporation Executive Compensation Letter
Confidential Attachment 2 - Toronto Hydro Corporation Executive Compensation Report and Attachments 1 (Executive Compensation Benchmark Results), 2 (Toronto Hydro Performance Statistics), and 3 (Role profiles of Toronto Hydro Executive Team)
Confidential Attachment 3 - Toronto Hydro Corporation Executive Compensation Attachment 4 (Toronto Hydro Corporation 2016 Annual Information Form)
Confidential Attachment 4 - Toronto Hydro Corporation Executive Compensation Attachment 5 (Approved Toronto Hydro Executive Compensation Policy)
Communications
Motions
That the Executive Committee recess its public session to meet in closed session as the item relates to the security of the property of the City or local board and personal information about identifiable individuals.
That Executive Committee:
1. Refer the item back to the City Manager with the request that he:
a. Review the executive compensation policy at Toronto Hydro and report back to the Executive Committee with recommendations on an appropriate salary and compensation cap, which will limit compensation, for all new executives hired by the Corporation.
b. Request the Toronto Hydro Board of Directors to review current executive compensation packages and bonusing policies at Toronto Hydro to assess opportunities, respecting the provisions of currently existing contracts, to bring compensation inline with other City policies.
That Motion 1 by the Mayor Tory be amended by adding:
c. Compare the executive salaries and compensation with similar corporations in other municipalities across Canada and report back to the Executive Committee.
d. Consult with the City Solicitor and Toronto Hydro to determine what parts of the information, if any, contained in the confidential attachments can be publicly released.
That City Council direct the City Solicitor to review the confidential attachments provided by Toronto Hydro and advise City Council on whether the contents contained within the attachment can be publically released.