ICBC CEO Jon Schubert resigns after BC Gov review

Jon Schubert has resigned as the CEO of ICBC on the same day a critical review was released by the government of British Columbia.

ICBC was criticized by a government of B.C. review



A scathing report of ICBC’s management costs released on Thursday has caused its CEO, Jon Schubert, to resign from the Crown corporation.

The government’s review of ICBC chided the corporation for several reasons revolving around rising management costs, and made 24 recommendations to improve on. The review found that senior managers’ pay jumped 70 per cent from 2007 to 2011, and positions jumped 32 per cent in that same time.

One of the government’s 24 recommendations is that ICBC reduce its number of positions by 165-195 by 2014.

——————–

“ICBC to seek rate increase in 2012,” by Tom Fletcher (BCLocalNews.com)

——————–

The CBC also reported that ICBC has paid $350,000 in signing bonuses and $25 million severance over the past five years.

The Huffington Post B.C. reported that ICBC is currently working on meeting all 24 recommendations, and finance minister Kevin Falcon “acknowledged a gap between economically prudent spending and ICBC’s staff raises.”

The Government of BC, on Thursday, also said it hopes ICBC will return to its budget levels from 2008, and it expects the corporation will have cut costs from $50 by December 31, 2013.

“ICBC has provided good value for its customers over the last 10 years and kept premium increases low, but our government expects ICBC will make every effort to keep costs to a minimum,” said Falcon. “That is why ICBC has been directed to bring compensation more in line with the public sector and develop clear measures for cost containment.”

Schubert will officially resign on Nov. 15, 2012 and he will be paid as a consultant until next June.

BCLocalNews reported in September, 2011 than Schubert was (at the time) the ninth highest-ranking public sector employee in British Columbia, raking in $522,178 as the CEO of ICBC.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Charges announced in string of Surrey/Langley robberies

Police say Corey Ulmer Brown identified through ‘linkages’

OUR VIEW: McCallum’s futile crusade against Uber is embarrassing for Surrey

Mayor’s claim that majority of residents don’t want ride-hailing is simply laughable

Surrey bylaw’s tactics with Uber drivers deemed ‘entrapment’ and ‘completely wrong’

That’s what Councillors Brenda Locke and Linda Annis had to say Monday about city staff hailing Uber drivers then issuing them warnings

South Surrey/White Rock residents snubbed on ride-hailing services

Lyft and Uber express plan to expand to peninsula once enough drivers are available

VIDEO: Kenney wants feds to approve Teck mine for benefit of First Nations

‘Surely [reconciliation] means saying yes to economic development for First Nations people’

‘Very disrespectful’: Headstones at Okanagan cemetery damaged by excavation crew

Headstones at Enderby’s Cliffside Cemetery mistakenly driven over by excavation crew

Despite reports of decline, birds flocking to national parks in Canadian Rockies

Recent studies suggest overall bird population has slid by three billion since 1970

Former UN committee member defends stance on B.C.’s Coastal GasLink pipeline

First Nations LNG Alliance accused UN committee, human rights watchdog of not doing their research

Police release photo of suspect in theft of Indigenous regalia in Vancouver

A person stole nine pieces of Indigenous regalia, five drums, and traditional boots

Opioid crisis to blame for shorter life expectancy in B.C. men, says Stats Can

Opioid crisis held responsible for declining life expectancy

Earthquake on top of highway closure a wake up call for Island’s West Coast

“When someone says, ‘Be prepared for 72 hours,’ that means exactly that: be prepared.”

Newspapers, hockey cards discovered in Mission school’s forgotten time capsule

Capsule opened in front of students from West Heights Community School

Pregnant B.C. woman stuck in Wuhan, the epicentre of coronavirus outbreak

Woman is due to give birth in Wuhan, China unless she can get out

Most Read