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38.6 million for CGI bosses



The total compensation of the most senior executives of the Montreal multinational computer consulting services CGI amounted to $ 38.6 million for its fiscal year 2022 ended September 30.

This amount of salaries and bonuses paid in cash or in CGI shares is increased by $8.2 million, or 27%, compared to the amount for the previous year.

Among the five senior executives mentioned in the management circular that is distributed these days to CGI shareholders, in preparation for their meeting on 1er next February in webcast only, the executive chairman of the board and founder of CGI, Serge Godin, obtained 13.8 million in total compensation, up 26% over one year.

For his part, the president and CEO of CGI, George D. Schindler, obtained for 13.6 million in total compensation, also up 26% over one year.

In addition, the largest increase in total compensation among CGI’s most senior executives, or 48%, to 3.18 million, was granted to Julie Godin, who is co-chair of the board (with her father Serge Godin) and vice- Executive President for the planning and strategic development of the company.

The multinational ended its 2022 financial year (as of September 30) with net profit up 7% to $1.46 billion, while its revenues rose 6% to $12.86 billion.

Earnings per share (diluted EPS) reached $6.04, a notable increase of 11.6% compared to the amount of $5.41 per share which had been recorded a year earlier.

This rise in annual EPS at CGI is partly attributable to its repurchases for cancellation of 8.8 million shares during its fiscal year 2022, for a total reported amount of $913.4 million.

In addition, CGI ended its 2022 fiscal year with a recorded return on equity of 20.9%, or 110 basis points (1.1%) more than the return achieved in 2021.

As for CGI’s order book, considered an important indicator of business prospects, it was accounted for at 24.05 billion at the end of the year. This amount is up $1 billion, or 4%, from what was reported a year earlier.

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