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In gentle of the robust yr, CEO Bharat Masrani’s direct compensation of $13,271,000 was greater than $1.7 million beneath his goal of $15 million and 11.2% beneath what he acquired in 2022. This was calculated utilizing a Enterprise Efficiency Issue of 96.4% which diminished his incentive compensation, and a $1 million discretionary adjustment which was really useful by Masrani particularly as a result of termination of the First Horizon transaction and U.S. regulatory points.
Nonetheless, in TD’s annual proxy round despatched to shareholders, it states that “the board believes that the CEO demonstrated wonderful private management and efficiency by a difficult yr.”
Alan MacGibbon, TD’s Board Chair, mentioned that the financial institution delivered for its stakeholders in 2023.
“We invested in new capabilities to strengthen the Financial institution and improve the shopper expertise, acquired and built-in TD Cowen, and constructed robust foundations for future development. The Financial institution’s efficiency and capital place enabled it to pay increased dividends, provoke share repurchases underneath a traditional course issuer bid, and return worth on to shareholders,” he mentioned. “We continued to assist advance a extra sustainable and inclusive future and set a brand new $500 billion Sustainable and Decarbonization Finance Goal, whereas immediately contributing $157 million by the TD Prepared Dedication within the communities wherein we function. I wish to thank our colleagues for his or her super efforts, our clients for his or her belief, and our shareholders for his or her ongoing help.”
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