Montréal, November 15, 2018
Hydro-Québec would like to clarify some information regarding compensation for certain employees
Further to an internal audit, Hydro-Québec noted that the compensation of certain employees did not comply with the company’s variable compensation policy. At issue was an incorrect interpretation of the policy, which affected about 75 people out of a total of 20,000 employees.
We recognize that there was an error in the interpretation of the variable compensation policy, but this error was made in good faith. However, we wish to be clear: there is no question of secret or illicit payments, but rather a performance-based compensation model, similar to that used in the financial sector, to attract and retain candidates best suited to meet the company’s challenges going forward. We will review relevant practices, but will continue to maintain our strategies to attract and retain top talent.
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