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Travel and Hospitality Expenses
Page Content As part of our commitment to good governance, we have policies governing the reimbursement of reasonable expenses required for the purposes of business travel and hospitality. These policies include processes for preparation and approval of expenses for reimbursement.
We voluntarily report, through our website, annual aggregate corporate expenses related to travel and business development activities as well as the travel and hospitality expenses for our President and CEO and senior executives. Expenses are reported by quarter and are reflected in the period during which they are reported in our financial records.
The following disclosure includes business expenses related to travel and hospitality expenses for the following activities: Board of Director-related meetings; corporate representation; business development and operational meetings. Information that would normally be withheld under the Access to Information Act or the Privacy Act does not appear in this section.
Summary of travel and hospitality expenses for the President and CEO and senior executives
| Benoit Daignault, Senior Vice-President, Business Development |
$7,300.14 |
$1,552.57 |
| Pierre Gignac, Senior Vice-President, Insurance |
$14,518.56 |
$1,066.16 |
| Ken Kember, Senior Vice-President and Chief Financial Officer |
$1,296.72 |
$0.00 |
| Susanne Laperle, Senior Vice-President, Human Resources |
$494.32 |
$395.60 |
| Jim McArdle, Senior Vice-President, Legal Services & Secretary |
$2,047.45 |
$592.47 |
| Sherry Noble, Senior Vice-President, Business Solutions and Technology |
$775.57 |
$107.34 |
| Stephen Poloz, President and Chief Executive Officer (beginning January 1, 2011) |
$24,330.99 |
$1,246.16 |
| Rajesh Sharma, Senior Vice-President, Financing Products Group (beginning January 1, 2011) |
$15,586.19 |
$129.78 |
| Eric Siegel, President and Chief Executive Officer (to December 31, 2010) |
$0.00 |
0.00 |
Aggregate Annual Corporate Disclosure
We also report, at an aggregate corporate level, travel and hospitality expenses, on an annual basis.
All amounts in millions of Canadian dollars (totals include executive expenses)
| EDC Total Revenue |
$1,359 |
$1,600 |
| EDC Total Administrative Expenses |
$279 |
$246 |
| EDC Total Travel and Hospitality Expenses |
$8.17 |
$8.27 |
Travel and Hospitality Expense as
% of EDC Total Administrative Expenses |
2.9% |
3.4% |
Aggregate Annual Board of Directors Disclosure
All amounts in thousands of Canadian dollars
| Travel & Hospitality – President * |
$94.89 |
$83.43 |
| Travel and Hospitality Board of Directors |
$188.49 |
$253.68 |
* President's expenses include World Economic Forum Registration fees
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