New SAQ president to receive salary of over half a million dollars
The new head of Quebec's liquor board (the Société des alcools du Québec - SAQ), Jacques Farcy, will earn a salary of $528,215, excluding performance-related bonuses.
The information was published Wednesday in a decree issued by the Legault government. The decree specifies that Farcy's variable compensation cannot exceed 15 per cent of his base salary. This represents a maximum of just over $79,000.
The government is also opening the door to the establishment of a long-term incentive plan. It will be up to the Board of Directors to determine the parameters, but it will have to be approved by the government.
Prior to joining the SAQ, Farcy headed the Société québécoise du cannabis (SQDC) for the past two years.
This report was first published in French by The Canadian Press on July 5, 2023.
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