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Nadir Mohamed Prepares To Leave Rogers, But Set To Receive $18.5M Package

Nadir MohamedNadir Mohamed recently announced he will be stepping down from the top seat at Rogers as the CEO will retire in 2014.  According to documents filed with the securities regulators on Thursday, Rogers could possibly pay Nadir a exit package worth $18.5 million which is made up of $5.5 million in cash, nearly $6.2 million in stock options and $6.8 million in restricted share units, which are non-transferable company stock.  In 2012, Mohamed made $8.21 million, a combination of his $1.2 million salary and various stock- and option-based awards. That marked an increase from $8.18 million in 2011.

The document also states that Nadir has a non-compete clause in place for 12 months after he steps down – sorry Bell and TELUS, you can’t hire him for a least another year (if you were considering).

He joined Rogers in August 2000, and headed up a number of wireless divisions until being named CEO in March 2009 succeeding Founder Ted Rogers (who passed away in December 2008).