I. David Marshall, president and CEO of Ontario’s WSIB, is entering the final year of his five-year contract. He will almost certainly make $800,000 over the next 12 months: base pay of $400,000 and a $400,000 bonus.
How will he earn that $400,000 bonus? Well, his contract, posted online here, says that he will be awarded 20 per cent per year of his total contract over 5 years (at $400,000 per year, that’s $80,000 per each of his 5 years) for coming up with a plan to reduce the WSIB’s unfunded liability (which stands at just south of $14-billion!).
What plan has he enacted? Well, among other things, he is presiding over an agency that is hoovering up another 50,000 to 90,000 contractors into the WSIB system (as part of Bill 119, which came into force a year ago). Under Bill 119, vast numbers of formerly-exempt contractors must cough up the dough – or risk being prosecuted.
This is what our reader Jacques N. Arbic thought about that, in his online post on Dec. 11.
“The CEO of WSIB is just another no-heart, no-soul executive looking for a big bonus on the backs of Mr. Public.
These CEOs only see, think and dream green. They are a curse to small business.”
What do you think? Is Mr. Arbic right? Or is he being too cynical?