CORRECTED-RBC boosts CEO McKay's total 2024 compensation by 12% to C$17 million
In this article:
(Corrects to 12% from 13% in paragraph 1 and headline)
TORONTO, March 7 (Reuters) - Royal Bank of Canada set a total compensation of C$17 million ($12.6 million) for CEO Dave McKay for 2024, 12% more than last year, the country's biggest lender disclosed in a circular on Thursday.
RBC said the board took into consideration that McKay is one of the longest tenured CEOs among the bank's Canadian and U.S. peers "with a proven track record of sustained performance."
McKay's total compensation for 2023 was $15.22 million, flat compared with 2022. ($1 = 1.3457 Canadian dollars) (Reporting by Nivedita Balu in Toronto Editing by Chris Reese)
