Tarion executive salaries revealed by Toronto StarCanadian Contractor
CEO Howard Bogach earned more than $700,000 in 2013, the newspaper reported
Tarion, Ontario’s new home warranty program, is getting a hard time from the Toronto Star. On Monday, the newspaper published the salaries of key executives at Tarion, starting with CEO Howard Bogach, who in 2013 “earned a total of $700,117, including a bonus worth more than 60 per cent of his base salary.”
Also name- (and salary-) checked in the article were David Guiney, senior vice-president, who earned $494,336 in 2013, and vice-president and general counsel Tim Schumacher, who earned $404,742 that year.
The Star says it obtained the salaries from public sources in the U.S, where Tarion is required to file disclosure documents with the IRS, since it has investments south of the border. In Canada, Tarion is not required to publish its salaries.
In the article, the chair of Tarion’s board of directors, Mark Basciano, who is president of homebuilder Mountainview Homes, defended Tarion’s executive salaries. They are “in line with what other public and private sector organizations pay,” he said.