Ed Martin severance package 'stinks of hypocrisy,' union head says
CUPE Newfoundland and Labrador head Wayne Lucas is angry over the amount of money former Nalcor Energy CEO Ed Martin received for his severance.
The energy corporation confirmed Wednesday Martin's final paycheque was $1.387,815.74.
"How are we expected to have faith in a government that, on the one hand, closes half the province's libraries for a projected savings of one million dollars, and hands over more than that amount to one already wealthy executive," Lucas said in a news release Thursday.
"The hypocrisy of this is staggering."
Nalcor's manager of corporate communications, Deanne Fisher, said Martin's contract entitled him to severance of two times his salary of $685,000, bonus and vehicle allowance.
Lucas said the provincial government has attempted to remove CUPE members' "modest" severance packages in the last two rounds of bargaining.
What's more, Lucas said the severance is proof that it was not Martin's choice to step down as the head of Nalcor, after a decade at the helm.
Martin announced his departure two weeks ago. The next day, former Fortis Inc. CEO Stan Marshall was appointed the position.
A rally is planned for at Confederation Building Saturday, and Lucas is encouraging union members to join the protest.