Canada’s highest-paid CEOs come from a variety of industries, including telecommunications, fast food, auto parts and technology.
In 2022, Canada’s highest-earning CEOs took home average salaries of $14.9 million, marking a new record that’s 246 higher than the average Canadian worker’s annual earnings, according to a new report from the Canadian Centre for Policy Alternatives (CCPA).
Here is a list of the 10 Canadian CEOs who took home the most pay in 2022:
1. J. Patrick Doyle, executive chairman of Restaurant Brands International
Doyle was in the top spot with $151,812,911 in total compensation for the year, which includes more than $100 million in share-based awards.
Restaurant Brands, the parent company of Tim Hortons, Burger King and Popeyes, also had the tenth highest-paid executive in 2022, with former CEO José Cil earning $22,188,911 in total compensation. Joshua Kobza replaced Cil as CEO in March 2023.
2. Matthew Proud, global CEO and director of the corporate software firm Dye and Durham.
Total compensation: $98,864,268
3. Magna International Inc. CEO Seetarama S. Kotagiri
Total compensation: $36,398,662
4. Tony Staffieri, president and CEO of Rogers Communications Inc.
Total compensation: $31,515,047
5. Mark J. Barrenechea, vice-chair, CEO and CTO of IT firm OpenText Corporation
Total compensation: $30,252,989
6. Tobias Lütke, CEO of Shopify Inc.
Total compensation: $26,026,203
7. Gary Berman, president and CEO of real estate company Tricon Residential Inc.
Total compensation: $25,781,356
8. Joseph C. Papa, former CEO of Bausch Health Companies Inc.
Total compensation $25,742,006
9. Irwin Simon, president, CEO and chairman of the board at cannabis company Tilray Brands Inc.
Total compensation: $25,319,091
10. José Cil, CEO of Restaurant Brands International Inc.
Total compensation: $22,188,911
With files from The Canadian Press