We Think Shareholders Are Less Likely To Approve A Large Pay Rise For Winpak Ltd.'s (TSE:WPK) CEO For Now

May 09, 2025

Key Insights

Winpak's Annual General Meeting to take place on 15th of May
Total pay for CEO Olivier Muggli includes US$647.7k salary
The total compensation is 48% higher than the average for the industry
Winpak's total shareholder return over the past three years was 12% while its EPS grew by 11% over the past three years

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CEO Olivier Muggli has done a decent job of delivering relatively good performance at Winpak Ltd. (TSE:WPK) recently. This is something shareholders will keep in mind as they cast their votes on company resolutions such as executive remuneration in the upcoming AGM on 15th of May. However, some shareholders may still be hesitant of being overly generous with CEO compensation.

View our latest analysis for Winpak

How Does Total Compensation For Olivier Muggli Compare With Other Companies In The Industry?

At the time of writing, our data shows that Winpak Ltd. has a market capitalization of CA$2.6b, and reported total annual CEO compensation of US$1.8m for the year to December 2024. We note that's an increase of 25% above last year. While this analysis focuses on total compensation, it's worth acknowledging that the salary portion is lower, valued at US$648k.

On comparing similar companies from the Canadian Packaging industry with market caps ranging from CA$1.4b to CA$4.5b, we found that the median CEO total compensation was US$1.2m. This suggests that Olivier Muggli is paid more than the median for the industry.

Component	2024	2023	Proportion (2024)
Salary	US$648k	US$636k	35%
Other	US$1.2m	US$824k	65%
Total Compensation	US$1.8m	US$1.5m	100%

On an industry level, roughly 25% of total compensation represents salary and 75% is other remuneration. According to our research, Winpak has allocated a higher percentage of pay to salary in comparison to the wider industry. If non-salary compensation dominates total pay, it's an indicator that the executive's salary is tied to company performance.

ceo-compensation — TSX:WPK CEO Compensation May 9th 2025

A Look at Winpak Ltd.'s Growth Numbers

Winpak Ltd.'s earnings per share (EPS) grew 11% per year over the last three years. It achieved revenue growth of 2.2% over the last year.

Shareholders would be glad to know that the company has improved itself over the last few years. It's good to see a bit of revenue growth, as this suggests the business is able to grow sustainably. Looking ahead, you might want to check this free visual report on analyst forecasts for the company's future earnings..

Has Winpak Ltd. Been A Good Investment?

Winpak Ltd. has served shareholders reasonably well, with a total return of 12% over three years. But they probably wouldn't be so happy as to think the CEO should be paid more than is normal, for companies around this size.

In Summary...

Seeing that the company has put up a decent performance, only a few shareholders, if any at all, might have questions about the CEO pay in the upcoming AGM. However, any decision to raise CEO pay might be met with some objections from the shareholders given that the CEO is already paid higher than the industry average.

CEO compensation is one thing, but it is also interesting to check if the CEO is buying or selling Winpak (free visualization of insider trades).

Important note: Winpak is an exciting stock, but we understand investors may be looking for an unencumbered balance sheet and blockbuster returns. You might find something better in this list of interesting companies with high ROE and low debt.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.