FOR IMMEDIATE RELEASE: July 21, 1998
Former WCB boss given huge "golden parachute" EDMONTON – The former CEO of the Alberta Workers Compensation Board was given a "termination benefit" worth $580,294 when he stepped down from his position late last year, according to figures contained in the WCB’s annual report. The huge pay-out was given to Dr. John Cowell on top of his annual salary package of $366,287. "I’ve heard of golden parachutes before, but this is unprecedented in the history of the Alberta WCB," says Les Steel, Secretary Treasurer of the Alberta Federation of Labour. "Now we know why the WCB felt it had to close its regional offices in Lethbridge, Red Deer and Grande Prairie – they couldn’t afford them any longer after giving more than half a million dollars to Dr. Cowell." Steel described the pay-out to Cowell as "obscene and inappropriate," adding that "no one is worth that kind of money." "I don’t have any problem with the WCB giving Dr. Cowell a fair severance package – we believe that all working people are entitled to something if they lose their jobs. But in this case, the settlement is completely beyond the bounds of reason." Steel says Cowell’s "sweetheart deal" is particularly inappropriate because it comes at a time when it is more difficult than ever for injured workers to qualify for benefits and when the WCB is making plans to close all of its regional offices outside of Edmonton and Calgary to save money. "The termination package given to Cowell is enough to keep the regional offices in Lethbridge, Red Deer and Grande Prairie running for almost four years," he says. "Clearly this is an inappropriate use of the WCB’s money. The WCB was established to provide compensation for injured Alberta workers, not to line the pockets of fat cat bureaucrats."
For more information call:
|