Brian Ferguson and Contractor Positions

executive officers: This year, 440 staff and full-time contractor positions have been eliminated, according to The Toronto Star. In an effort to control costs and given the challenging market conditions, the board has kept 2015 base salaries for the named executive officers at 2013 levels with performance bonuses reduced and partially deferred into 2017, president and CEO Brian Ferguson said on a conference call. Cenovus has cut its overall head count by 31 per cent since the end of 2014 and employees this year will see lower allowances and benefits going forward after getting bonus reductions in 2015, the company said Wednesday. In its annual disclosure document filed in March, Cenovus reported that total compensation for four named executives fell to $18 million in 2015 from $22 million in 2013. In an interview, Ferguson pointed out that executive cash salaries have been frozen for three years and employee salaries for two. Ferguson earned $7.9 million in salary, bonuses and other income, down from $9.2 million in 2013. (news.financializer.com). As reported in the news.