Cronos’ CEO gets CA$12 million-plus in partial-year pay

MJ Biz reports

Canadian cannabis producer Cronos Group paid CEO Kurt Schmidt more than $10 million (12.2 million Canadian dollars) in salary and other compensation in 2020, according to the Toronto-based company’s recently disclosed proxy circular, even as the operation continued to lose money.

Schmidt’s compensation reflects a salary and bonus that covers only the part of the year he was chief executive in 2020 – roughly four months – between early September through December.

The 64-year-old executive’s total pay was 217 times more than the median compensation for the cannabis producer’s other employees that year, the regulatory filing states.

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