Metro Vancouver’s transportation authority has relaunched its efforts to find a new CEO who is willing to accept a smaller compensation package than the predecessor.
TransLink made the announcement today that the Mayors’ Council has approved a compensation package that “will target the low to mid-point of the salary range” of what public sector executives receive in B.C.
Under the new package, the new CEO will be eligible to receive a minimum salary of $325,092 and a maximum salary of $365,728, but it does not come with a bonus or a vehicle allowance. In fact, the new policy of not offering a vehicle allowance stretches to all of TransLink’s executives.
“We recognize that the public has a vested interest in the compensation paid to people working in the public sector,” said TransLink board chair Barry Forbes in a statement. “We believe that by eliminating bonuses and car allowances, and cutting the number of senior positons at TransLink, we have addressed those concerns.”
In contrast, former TransLink CEO Ian Jarvis received a salary of $435,015 in 2014, which does not include: his pension; medical, dental and extended health benefits; short-term bonuses; and a long-term incentive plan.
This past summer, TransLink suspended its CEO search plans after a job posting on Work B.C. sparked controversy. At the time, the authority’s compensation package consisted generous benefits such as a $14,400 annual car allowance and $1,200 annual parking allowance.
The transportation authority maintains that it has saved $2 million annually over the last two years by cutting executive and senior-management salary costs.
There have been a number of executive shuffles in TransLink over the past year, among them the appointment of former InTransitBC CEO Doug Allen for the role of TransLink CEO – on an interim basis, until August 10. Cathy McLay, the agency’s CFO and Vice-President of Finance and Corporate Services, has since taken on the role of acting CEO.
Mike Richard replaced Doug Kelsey as the general manager of the B.C. Rapid Transit Company, the TransLink subsidiary that operates the Expo and Millennium lines, and the position of Executive Vice-President of Strategic Planning and Stakeholder Relations was cut.
TransLink’s mandate spans both the Metro Vancouver region’s public transit system and major roads and bridges. The entity is an agent of provincial government, employs 6,900 people and generates $1.4 billion in revenues each year.