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←Board of Governors of Exhibition Place · 2022-09-14 · 2022.EP25.5

The filed record

Executive Compensation Study

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The decision

2022-09-14 · Board of Governors of Exhibition Place · amended

As filed

The Board of Governors of Exhibition Place: 1. Authorized the Chair to establish a revised salary range for implementation in the 2022 fiscal year for the Chief Executive Officer, Exhibition Place in line with the Metro Toronto Convention Centre as presented by Korn Ferry. 2. Directed the Chief Executive Officer, Exhibition Place to engage with Korn Ferry to complete the compensation study for the other executive and non-executive Exhibition Place staff in consultation with the City Manager's Office and report back to the Board.

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3. Directed that the confidential presentation remain confidential as it pertains to personal matters about identifiable individuals, including municipal or local board employees.

The vote

Amend Item · Carried, 6-0

For (3)Anthony Perruzza, Joe Mihevc, Mark Grimes
Absent (1)Gary Crawford
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On the agenda

As the city filed it

At its meeting of December 2019, the Board approved the Executive Incentive Pay Grid Short Term Incentives for Exhibition Place for implementation in the 2020 Fiscal Year, for its four executive employees; and further directed the Chief Executive Officer to forward a confidential copy of the Executive Incentive Pay Grid and Short-Term Incentives to the City Manager. In July 2021, City Council direct the City Manager to complete an independent external review of executive compensation policies and practices at the City of Toronto's Agencies and Corporations, including Exhibition Place, and to report back by the fourth quarter of 2021.

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In response to the above City Council direction in July 2021, the City has retained the services of an external independent organizational consultant firm, Korn Ferry, to lead the executive compensation review at in-scope City Agencies and Corporations. Staff from Korn Ferry will be attending the Board meeting of September 14, 2022 to provide a confidential PowerPoint Presentation on their compensation review.

Staff recommended

The Chief Executive Officer recommends that: 1. The Board receive the report for information.

    On the record

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