As of April 1, 11 directors saw a hike in their remuneration to $48,000 from $30,000. Board chairwoman Elizabeth Harrison received an increase to $140,000 a year from $105,000 in 2006.
With vice-chairman Thomas Harris receiving an additional $15,000 on top of his $48,000 annual stipend, that means the corporation will spend an extra $233,000 this year in raises for the board members and chairwoman, for a total of $683,000.
New B.C. ferry.
Darren Stone, Times Colonist
At the same time, on April 1, the corporation implemented a 7.3-per-cent fare increase on the major routes -- fare increases expected to go up every April 1 for the next four years.
'We need to attract and retain the best people as directors, with the business, legal and financial skills necessary to oversee the company,' Harrison said.
Every two years Hewitt Associates, a firm dealing in human resource issues, compares 17 companies and recommends the board compensation fee -- with instructions to stay at or below the mid-point of the comparative group, Harrison said. The latest hike is below the average, she said.