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The Colleges of Applied Arts and Technology pension plan told members in a letter on Friday that it is increasing disclosure about executive pay and that it now prohibits relationships involving senior executives, regardless of their reporting relationship. (The Logic)
Talking point: The changes follow an investigation into CAAT’s governance after concerns about the board sanctioning a large vacation payout for former CEO Derek Dobson, as well as a personal relationship between the CEO and another employee. The decision led to several executives leaving the $25.4-billion pension fund, having lost faith in Dobson’s leadership. Dobson himself resigned in March, after 17 years of leading the pension fund.
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