In BC Ferries’s annual executive compensation disclosure, four of the company’s highest-ranking employees’ salaries were revealed, including now-former CFO Dennis Dodo’s settlement of nearly half a million dollars.
“I’m going to steer away from anything too personal,” BC Ferries president and CEO Mark Collins said. “As you can imagine it’s a personnel matter and I wouldn’t be able to comment on Mr. Dodo’s situation directly. Like any executive, there is an employment contract that sets out the terms and conditions of his employment. When an executive leaves the company, we must adhere to those terms and conditions, which is what we did in this case.”
Vice president and chief finance officer Dodo was appointed in April 2015. His last day with the company was June 23, 2017. On July 1, Alana Gallagher became the CFO after serving as treasurer during her 18-year employment by BC Ferries.
“Mr. Dodo and BC Ferries decided to part ways and under the terms of his contract, he’s entitled to a certain severance payment, so that’s what that is,” Collins said.
The 2018 executive compensation disclosure, dated June 19, 2018, covers the fiscal year until March 31. Dodo was given a mediated settlement award of $593,000, including $134,538 as a base salary continuance. The settlement was paid in two lump sums. In an email, BC Ferries executive director of public affairs, Deborah Marshall, confirmed Dodo’s salary in his last full year of employment was $404,906, including a $33,371 pension. For his accrued and banked 2018 vacation time, Dodo also received $61,154 upon his departure.
The June 19 report outlines how much employees who are either the CEO or serving as executive vice presidents for BC Ferries make. Four BC Ferries employees fit that description in the 2018 fiscal year, including Dodo. Gallagher, the new CFO, made $375,500 in the 2018 fiscal year (including pension, benefits and a vehicle allowance). Collins made just shy of $500,000, while vice president and COO Corrine Storey brought home $390,813. Storey began her position on Oct. 16, 2017, and her salary does not include the full 2018 fiscal year.