Kinross Compensation for Senior Leadership | Mining University

Kinross Compensation for Senior Leadership

The Kinross Management Information Circular is an outline for the company's annual meeting.  At this meeting, shareholders vote on key items for the future of the company.  Foremost among these items is the compensation packages for the named executive officers and board of directors.

As with most publicly traded companies there is an attempt to align the compensation of senior leadership with the objectives of the company so that as the company succeeds the senior leadership also succeeds.  The reverse should also be true.  As the company fails the compensation of the senior leadership should also suffer.  This doesn't feel like it really happens.

Over the course of 2011, the Kinross stock price fell from $18.72to $11.40, or 39%.  Senior leadership, and CEO Tye Burt, didn't take a comparable decline in compensation.  Named executive officers made less in 2011 than they did in 2010, but Mr. Burt still received $7.7 million in total compensation.  I wish I had a job where my value to the market could drop 39% and still come away with compensation on the order of $7.7 million.

Total compensation for Kinross named executive officers and board of directors:

Tye W. Burt - President and CEO: $7,682,639
Thomas M. Boehlert - VP and CFO: $4,744,229
Paul H. Barry - VP and CFO: $4,007,344
Brant E. Hinze - VP and COO: $5,065,722
J. Paul Rollinson - VP Corporate Development: $3,577,709
Geoffrey P. Gold - VP and Chief Legal Officer: $2,895,486

John A. Brough: $276,000
John K. Carrington: $215,000
R Clark: $60,333
John M.H. Huxley: $231,500
Kenneth C. Irving: $102,000
Jehn A. Keyes: $240,000
L. Lundin: $55,333
Catherine McLeod-Seltzer: $223,000
George F. Michals: $238,000
John E. Oliver: $420,000
Terrence C.W. Reid: $226,000

For further information on the compensation packages for other mining executives see:
Newmont Mining Corporation - Executive and Director Compensation 2011
Rio Tinto Executive and Director Compensation 2011
Cameco - Management Proxy Circular
Gold Fields Annual Report 2011
Barrick Annual Shareholder Meeting

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