The former CFO of BC Ferries received a settlement of around $500,000, according to the company’s annual executive compensation disclosure released earlier this year.
Dennis Dodo became chief financial officer and vice president in April 2015 and left the company on June 23, 2017. Alana Gallagher, who was serving as treasurer, became the CFO and vice president of BC Ferries on July 1, 2017.
The 2018 executive compensation disclosure, which covers the fiscal year until March 31, 2018, and was released on June 19, 2018, states that following Dodo’s departure, he received a mediated settlement award of $593,000, of which $134,538 was paid as base salary continuance and $458,462 was paid in two lump payments.
“Mr. Dodo left the employment of BC Ferries in June 2017. BC Ferries and Mr. Dodo reached a mediated settlement through a third party arbitrator following his departure from BC Ferries. As this is a personnel matter, we have no further comments on the subject,” BC Ferries spokeswoman Deborah Marshall said in a statement.
Dodo also received a lump sum payment of $61,154 for accrued vacation time in fiscal 2018 (April 1, 2017, to March 31, 2018) and vacation time banked in prior fiscal years.
His salary for fiscal 2018 ($207,923), was composed of the amount he received in base salary during the period he served as CFO ($73,385) and the amount he received in base salary continuance ($134,538).
The salaries of three other BC Ferries executives are listed in the disclosure as under the Coastal Ferry Act, the compensation for three executive positions (CEO, COO and CFO) is set and administered within a total annual remuneration limit prescribed by an executive compensation plan.
CEO Mark Collins made 425,000 in the 2018 fiscal year, including pension, benefits and vehicle allowance. Gallagher made $375,500 and COO Corrine Storey made $390,813. Her salary did not include the full fiscal year as she started on Oct. 16, 2017.