Even though he has just retired from Bombardier, the full retirement will await Laurent Beaudoin, since the 79-year-old businessman wants to continue to chair BRP’s board of directors.
In the solicitation circular sent to the shareholders of the RV manufacturer for the Valcourt annual meeting on May 31, Valcourt confirms that he is a candidate for re-election.
About to blow his 80th birthday, Mr. Beaudoin has been Chairman of the multinational since December 2003, when the Bombardier Recreational Products division was spin-off.
Through Beaudier Holding, it holds more than 19.7 million multiple voting shares, representing 28.5% of all voting rights.
Taking into account 13 million multiple voting shares belonging to other members of the Beaudoin-Bombardier family, Groupe Beaudier holds 47.5% of the voting rights of the manufacturer of Ski-Doo, Sea-Doo and Can-Am.
On Thursday, at the end of the Bombardier shareholders’ meeting, which highlighted the many achievements of Mr. Beaudoin during his 55-year career with the company, he said he had “d” other projects “.
“I’m a man of action, I’m going to miss the action,” he said in a scrum. It was time to turn the page. I have other projects that I personally take care of. I will not be bored. ”
In addition, at the end of a year in which BRP continued to grow, total compensation – which includes base salary, bonuses and other benefits – of its top five executives jumped 52%, nearly $ 13.5 million.
This is mainly due to the total pay of its President and Chief Executive Officer, José Boisjoli, which was $ 7.83 million, up nearly 69% from the previous fiscal year.
The variance is primarily due to the value of its option-based awards of $ 4.16 million in fiscal 2018 compared to $ 1.76 million in the prior year. Mr. Boisjoli’s base salary remained stable at approximately $ 1 million, while his annual incentive bonus was $ 1.9 million, up by approximately $ 770,000.
Chief Financial Officer Sébastien Martel was the second-highest overall compensation at $ 1.65 million – a jump of 51%.
A good performance
BRP finished the last fiscal year on a high note with record results and an optimistic outlook for the current year.
For the fiscal year ended January 31, the Valcourt-based company posted revenues of approximately $ 4.5 billion, an increase of eight percent, while its net income was $ 274.5 million, or $ 2.54 per share, up 6.8%.
“Our revenues reached an all-time record for the fifth year in a row, thanks to the strong momentum of the global retail business, a strong product lineup and continued strong brands,” argues. Mr. Beaudoin in his message to the shareholders.
Last month, Mr. Boisjoli indicated that BRP is currently looking for its next product. He had not gone so far as to say that the next axis of growth would be a breakthrough in the motorcycle industry, which has already been suggested in the past by some financial analysts.