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Post by ferryfast admin on Sept 27, 2011 11:21:43 GMT -5
BC Ferries boss David Hahn stepping down at the end of this year By Vaughan Palmer, Vancouver Sun
September 27, 2011 9:06 AM
Read more: www.vancouversun.com/news/Ferries+boss+David+Hahn+stepping+down+this+year/5464890/story.html#ixzz1ZAdSSVjN
BC Ferries president David Hahn today announced $11 million worth of cost savings at the service, including service reductions, a wage and hiring freeze and his own early retirement.
Hahn, who has become a lightning rod because of his $1 million salary and sizable pension, will leave voluntarily at the end of the year, 15 months before the scheduled expiry of his contract. He estimated the early departure will save the corporation $1.5 million.
He said he thought the timing was essential to make the other changes palatable to the travelling public, it being wrong for a CEO to force cuts on the corporation while remaining ensconsed in the executive suite.
He maintained he was not forced out. Had that been the case, the corporation would have been on the hook for an additional 30 months pay and severance.
Hahn advised the ferry board of his plan in August and the government this week. No successor has been named though Mike Corrigan, his second in command and the ferries chief operating officer is believed to have the inside track.
Read more: www.vancouversun.com/news/Ferries+boss+David+Hahn+stepping+down+this+year/5464890/story.html#ixzz1ZAd2Xt2k
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