Canadian Pacific Railway Ltd. (TSX: T.CP, Stock Forum) (NYSE: CP, Stock Forum) CEO Hunter Harrison received a total of $49.2 million in compensation last year, most of it to make up for pension and other payments that his previous employer refused to pay when he took the top job at the rival railway, according to a CanadianBusiness.com report that was also posted by Canaccord Wealth Management in its Morning Coffee newsletter.
Harrison’s direct compensation, including a $1 million base salary, totaled $4.1 million in 2012, according to an information circular posted ahead of the company’s May annual general meeting.
This report has surfaced just days after CP said its annual meeting will be held in Toronto on May 1, 2013. In a press release, CP said Harrison will review the company’s 2012 performance and talk about the "transformational journey that is occurring at CP."
CP shares rose 0.58% to $128.80 on Tuesday, leaving the company with a market cap of $22.5 billion, based on 174.5 million shares outstanding. The 52-week range is $132 and $71.61.