Rogers’ CEO Retirement Package Worth $18.5 Million

Nadir Mohamed has been with Rogers since August of 2000. In March of 2009, he took over from the company’s late founder, Ted Rogers.

Ted was the head of Rogers for more than 40 years. Mohamed’s tenure, which ends January 2014 after a mere 4.5 years, looks quite short by comparison. But he will nonetheless be rewarded handsomely in retirement by Canada’s largest telecommunications firm.

According to Rogers documents, Mohamed’s retirement package will be worth a staggering $18.5 million. The CEO will take home more than $5.5 million in cash, over $6.1 million worth of stock options, and nearly $7 million worth in restricted stock units.

According to data crunched from Statistics Canada, Mohamed’s retirement package is worth approximately 662 times more than the average Canadian’s income in retirement. With numbers like that, it’s not difficult to believe the critics who say Canada has the most overpriced wireless services in the world.