CIBC shareholders show displeasure at compensation for exiting execs

CIBC shareholders show displeasure at compensation for exiting execs

CIBC shareholders show displeasure at compensation for exiting execs The shareholders of CIBC sent the board a message in their meeting yesterday; no big bonuses for exiting executives. The non-binding vote was in response to multimillion dollar compensation packages that apply to former CEO Gerry McCaughey who will receive $16.7 million and former COO Richard Nesbit who will receive $8.5 million on top of their pension benefits. At the AGM 57 per cent voted against the payouts.