Cenovus Energy Management
Management criteria checks 2/4
Cenovus Energy's CEO is Jon McKenzie, appointed in Apr 2023, has a tenure of 1.08 years. total yearly compensation is CA$8.67M, comprised of 11.4% salary and 88.6% bonuses, including company stock and options. directly owns 0.042% of the company’s shares, worth €14.73M. The average tenure of the management team and the board of directors is 1.1 years and 3.7 years respectively.
Key information
Jon McKenzie
Chief executive officer
CA$8.7m
Total compensation
| CEO salary percentage | 11.4% |
| CEO tenure | 1.1yrs |
| CEO ownership | 0.04% |
| Management average tenure | 1.1yrs |
| Board average tenure | 3.7yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2024 | n/a | n/a | CA$5b |
| Dec 31 2023 | CA$9m | CA$989k | CA$4b |
| Sep 30 2023 | n/a | n/a | CA$4b |
| Jun 30 2023 | n/a | n/a | CA$4b |
| Mar 31 2023 | n/a | n/a | CA$5b |
| Dec 31 2022 | CA$5m | CA$750k | CA$6b |
| Sep 30 2022 | n/a | n/a | CA$5b |
| Jun 30 2022 | n/a | n/a | CA$4b |
| Mar 31 2022 | n/a | n/a | CA$2b |
| Dec 31 2021 | CA$6m | CA$700k | CA$553m |
| Sep 30 2021 | n/a | n/a | CA$816m |
| Jun 30 2021 | n/a | n/a | CA$80m |
| Mar 31 2021 | n/a | n/a | -CA$371m |
| Dec 31 2020 | CA$4m | CA$588k | -CA$2b |
| Sep 30 2020 | n/a | n/a | -CA$2b |
| Jun 30 2020 | n/a | n/a | -CA$2b |
| Mar 31 2020 | n/a | n/a | CA$287m |
| Dec 31 2019 | CA$4m | CA$625k | CA$2b |
| Sep 30 2019 | n/a | n/a | CA$731m |
| Jun 30 2019 | n/a | n/a | CA$302m |
| Mar 31 2019 | n/a | n/a | -CA$2b |
| Dec 31 2018 | CA$5m | CA$461k | -CA$3b |
Compensation vs Market: Jon's total compensation ($USD6.35M) is about average for companies of similar size in the German market ($USD4.98M).
Compensation vs Earnings: Jon's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
CEO
Jon McKenzie (55 yo)
1.1yrs
Tenure
CA$8,671,098
Compensation
Mr. Jonathan M. McKenzie, also known as Jon, CA, is Vice-Chair of Canadian Association of Petroleum Producers from November 2023. He serves as President, CEO & Non-Independent Director at Cenovus Energy In...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chair | 6.5yrs | CA$8.11m | 0% CA$ 0 | |
| President | 1.1yrs | CA$8.67m | 0.042% CA$ 14.7m | |
| Executive VP of Strategy & CFO | less than a year | CA$2.78m | 0.0061% CA$ 2.1m | |
| Executive VP & COO | less than a year | CA$3.21m | 0.0072% CA$ 2.5m | |
| Executive VP & Chief Commercial Officer | no data | CA$3.20m | 0.015% CA$ 5.1m | |
| Executive Vice President of Upstream – Thermal & Offshore | 4.4yrs | CA$2.68m | 0.0029% CA$ 1.0m | |
| Senior Vice President of Investor Relations | no data | no data | no data | |
| Senior VP of Legal | 3.3yrs | no data | 0.0029% CA$ 1.0m | |
| Senior VP of Corporate Development & Acting Chief Sustainability Officer | less than a year | no data | 0.0053% CA$ 1.9m | |
| Senior Vice-President of People Services | 2.2yrs | no data | 0.00061% CA$ 212.1k | |
| Chief Sustainability Officer & Exe VP of Stakeholder Engagement (Leave of Absence)) | less than a year | no data | 0.0022% CA$ 747.4k | |
| Executive Vice-President | 3.3yrs | no data | 0.0015% CA$ 524.9k |
1.1yrs
Average Tenure
55yo
Average Age
Experienced Management: CXD1's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chair | 6.5yrs | CA$8.11m | 0% CA$ 0 | |
| President | 1.1yrs | CA$8.67m | 0.042% CA$ 14.7m | |
| Lead Independent Director | 7.4yrs | CA$303.09k | 0% CA$ 0 | |
| Independent Director | 3.3yrs | CA$256.21k | 0% CA$ 0 | |
| Independent Director | 3.3yrs | CA$253.00k | 0.0031% CA$ 1.1m | |
| Independent Director | 8.1yrs | CA$278.00k | 0% CA$ 0 | |
| Director | less than a year | CA$169.58k | 0.00064% CA$ 222.5k | |
| Independent Director | 8.1yrs | CA$274.50k | 0% CA$ 0 | |
| Independent Director | 4.1yrs | CA$267.50k | 0% CA$ 0 | |
| Independent Director | less than a year | CA$168.23k | 0.00011% CA$ 38.2k | |
| Independent Director | 1.3yrs | CA$266.00k | 0.000050% CA$ 17.4k | |
| Independent Director | 5.1yrs | CA$281.13k | 0% CA$ 0 |
3.7yrs
Average Tenure
63yo
Average Age
Experienced Board: CXD1's board of directors are considered experienced (3.7 years average tenure).