LÉVIS, QC, March 28, 2013 /CNW Telbec/ - The Desjardins Group 2012 Annual Report is now available on the Desjardins website at www.desjardins.com/DesjardinsGroupannualreport. Published only in electronic format, the report presents the year's
major achievements and includes a section with the 2012 financial
In addition to the annual report, Desjardins publishes — on the
information site SEDAR — the Annual Information Forms of the Fédération des caisses Desjardins
du Québec, Caisse centrale Desjardins and Capital Desjardins inc.
These forms contain information regarding the compensation of those who
are the most highly paid at Desjardins Group.
Desjardins Group's compensation policy
According to Desjardins Group's compensation policy, the compensation of
the Chair of the Board, President and Chief Executive Officer must be
comparable to that of executives of some 50 financial cooperatives of a
similar size and should be around 75% of the Canadian financial
In 2012, Ms. Monique F. Leroux's total compensation was slightly less
than that of her peers in cooperative financial groups of the same
size, at 98% of the median value. It also stood at 62% of the median
value of the Canadian financial market.
Also of note, the President's compensation is 38 times that of the
In 2012, Ms. Leroux, earned a salary of $1,047,729 ($983,220 in 2011),
plus an annual incentive pay of $1,112,663 ($1,095,982). Compensation
also includes an amount of $1,180,021 ($1,001,656) resulting from
commitments to her pension plan, for a total compensation of $3.3
million ($3.1 million). Ms. Leroux is not eligible for the long-term
incentive plan available to senior executives.
"Under Ms. Leroux's leadership, Desjardins has continued to grow in its
various business segments and across Canada, where it has an
ever-increasing presence," said Denis Paré, Vice-Chair of the Board of
Directors and Chair of the Committee on the Aggregate Remuneration of
the President and Chief Executive Officer of Desjardins Group. "In
addition, the Board of Directors found that Ms. Leroux's performance
surpassed the objectives entrusted to her."
Monique Leroux's five major strategic objectives for Desjardins Group
were related to the further development of its governance, cooperative
development and education, financial performance, overall growth and
development, and employee and elected officer engagement.
"Ms. Leroux's efforts during the International Summit of Cooperatives
and throughout the International Year of Cooperatives helped to
significantly increase the visibility of Desjardins Group and
cooperation — not only in Canada, but on a global scale," added Mr.
Finally, during this year's Annual General Meeting with caisse
delegates, Desjardins Group will introduce an advisory vote on a
general approach of compensation of executives, management and
non-management staff alike.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada with assets of
nearly $200 billion. Drawing on the strength of its caisse network in
Québec and Ontario and its subsidiaries across Canada, it offers a full
range of financial products and services to its members and clients.
Desjardins specializes in Wealth Management and Life and Health
Insurance, in Property and Casualty Insurance, in Personal Services, in
Business and Institutional Services. Best Corporate Citizen in Canada for 2012 and among Canada's Top 100 Employers, Desjardins is supported by the skills of its 44,942 employees and the
commitment of 5,268 elected officers. Desjardins members and the
general public are invited to visit Desjardins Group's education and
cooperation program website at www.desjardins.com/co-opme.
SOURCE: DESJARDINS GROUP
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