Wow, the CEO of the Insurance Corp. of B.C. has 23 vice-presidents to help him manage his 5,000-employee empire.
Even U.S. President Barack Obama runs a country of about 314 million people with only one vice-president.
Following the audit of ICBC and its scathing review, the CEO of ICBC tendered his resignation and indicated he would leave by November of this year. He is, however, willing to remain on as a "consultant" and collect his full salary and bonuses of about $485,500 until June 2013. Considering the mess ICBC seems to be in, why do we need any more of his consultation assistance?
It is also difficult to comprehend that it is going to take up to two years to eliminate 200 positions (mostly management) from this upper-management-bloated corporation.
Martin L.
Battle Victoria
