David Thomson, the scion of Canada’s wealthiest family, is known for his extreme love of privacy. But the Thomson Reuters chairman will soon be spending more time in the spotlight, according to a front-page feature this week in the Wall Street Journal, which says that tough times have forced Thomson to take a more active role. The article also reveals some juicy insider details about the family business, including the changing extent of the clan’s fortune and what David wears to business meetings (hint: it’s not a suit). We round up the top five tidbits below.
Every two years, consulting firm Interbrand puts out a “Best Canadian Brands” list and the 2012 list of winners has a lot of old standbys (i.e. media companies, banks and Tim Hortons). Much-vaunted financial institutions like Toronto Dominion Bank (which took the top spot), Royal Bank of Canada (number three) and Scotiabank (number five) are all back, while cult yoga pants purveyor Lululemon Athletica broke the top 10 for the first time, its $3.25-billion brand value making it the fastest-growing brand in the country. Finally, hats off to Research in Motion’s BlackBerry brand, which managed to hold on to the number four spot—though the fine print acknowledges Interbrand arrived at that number in late 2011, and a lot has happened since then. Read the rest of this entry »
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Tom Glocer, who left Thomson Reuters at the end last year after 10 years as CEO, earned $6.7 million in bonuses on top of his salary in 2011, and will also get a $3.1-million golden parachute to be paid over the next two years. In all, Glocer stands to make $20 million, which seems rather generous considering Thomson Reuters’ stock price fell almost 40 per cent in 2011 and he stepped down after failing to turn around the company’s lackluster sales. We can only imagine what Roger Martin would say about this one. Read the entire story [Globe and Mail] »