Granite Real Estate Investment Trust Management
Management criteria checks 4/4
Granite Real Estate Investment Trust's CEO is Kevan Gorrie, appointed in Aug 2018, has a tenure of 6.08 years. total yearly compensation is CA$3.02M, comprised of 29.8% salary and 70.2% bonuses, including company stock and options. directly owns 0.17% of the company’s shares, worth $6.49M. The average tenure of the management team and the board of directors is 5.6 years and 6.2 years respectively.
Key information
Kevan Gorrie
Chief executive officer
CA$3.0m
Total compensation
| CEO salary percentage | 29.8% |
| CEO tenure | 6.1yrs |
| CEO ownership | 0.2% |
| Management average tenure | 5.6yrs |
| Board average tenure | 6.2yrs |
Recent management updates
Recent updates
Granite REIT: Solid Performance But Still Not Our First Choice
Jun 06Granite Real Estate Investment FFO of $0.97 beats by $0.16, revenue of $111.6M beats by $30.51M
Nov 10Granite Real Estate Investment declares CAD 0.2583 dividend
Sep 16Granite REIT: Revisiting This Industrial REIT
Sep 01Granite Real Estate Investment declares CAD 0.2583 dividend
Aug 17Granite Real Estate Investment declares CAD 0.2583 dividend
Jul 18Granite REIT: Good Growth Play
Dec 01CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Jun 30 2024 | n/a | n/a | CA$230m |
| Mar 31 2024 | n/a | n/a | CA$216m |
| Dec 31 2023 | CA$3m | CA$900k | CA$137m |
| Sep 30 2023 | n/a | n/a | -CA$21m |
| Jun 30 2023 | n/a | n/a | -CA$147m |
| Mar 31 2023 | n/a | n/a | -CA$332m |
| Dec 31 2022 | CA$3m | CA$900k | CA$156m |
| Sep 30 2022 | n/a | n/a | CA$623m |
| Jun 30 2022 | n/a | n/a | CA$1b |
| Mar 31 2022 | n/a | n/a | CA$2b |
| Dec 31 2021 | CA$3m | CA$800k | CA$1b |
| Sep 30 2021 | n/a | n/a | CA$1b |
| Jun 30 2021 | n/a | n/a | CA$820m |
| Mar 31 2021 | n/a | n/a | CA$579m |
| Dec 31 2020 | CA$3m | CA$800k | CA$430m |
| Sep 30 2020 | n/a | n/a | CA$353m |
| Jun 30 2020 | n/a | n/a | CA$362m |
| Mar 31 2020 | n/a | n/a | CA$385m |
| Dec 31 2019 | CA$3m | CA$800k | CA$382m |
| Sep 30 2019 | n/a | n/a | CA$377m |
| Jun 30 2019 | n/a | n/a | CA$421m |
| Mar 31 2019 | n/a | n/a | CA$471m |
| Dec 31 2018 | CA$4m | CA$333k | CA$465m |
Compensation vs Market: Kevan's total compensation ($USD2.25M) is below average for companies of similar size in the US market ($USD6.67M).
Compensation vs Earnings: Kevan's compensation has been consistent with company performance over the past year.
CEO
Kevan Gorrie (55 yo)
6.1yrs
Tenure
CA$3,024,900
Compensation
Mr. Kevan S. Gorrie, P. Eng, ICD D, has been President, Chief Executive Officer and Trustee/Director at Granite Real Estate Investment Trust and Granite REIT Inc. since August 01, 2018. He was the Presiden...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.1yrs | CA$3.02m | 0.17% CA$ 6.5m | |
| Chief Financial Officer | 5.2yrs | CA$1.47m | 0.024% CA$ 898.2k | |
| Executive VP of Global Real Estate & Head of Investments | 5.7yrs | CA$1.36m | 0.028% CA$ 1.1m | |
| Executive VP | 5.7yrs | CA$1.18m | 0.019% CA$ 720.0k | |
| Executive VP & Head of Global Real Estate | 14.6yrs | CA$1.43m | 0.052% CA$ 2.0m | |
| Manager of Legal & Investor Services | no data | no data | no data | |
| Senior VP & Head of Europe | 5.5yrs | no data | no data | |
| Senior Vice President of Finance | less than a year | no data | no data | |
| Senior VP & Head of U.S. | 4.9yrs | no data | no data | |
| Vice President of Sustainability & Environment | 2.7yrs | no data | no data | |
| CEO of the Racing & Gaming Division and President of the Racing & Gaming Division | 13.5yrs | no data | no data | |
| Associate Director of Investments & Asset Management | no data | no data | no data |
5.6yrs
Average Tenure
Experienced Management: GRP.U's management team is seasoned and experienced (5.6 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.1yrs | CA$3.02m | 0.17% CA$ 6.5m | |
| Independent Trustee | 7.3yrs | CA$135.00k | 0.014% CA$ 539.1k | |
| Independent Chairman | 7.3yrs | CA$223.00k | no data | |
| Independent Trustee | 5.3yrs | CA$170.00k | 0.0053% CA$ 200.8k | |
| Independent Trustee | 7.3yrs | CA$150.00k | 0.041% CA$ 1.6m | |
| Independent Director | less than a year | no data | no data | |
| Independent Trustee | 3.1yrs | CA$154.71k | no data | |
| Independent Trustee | 7.3yrs | CA$170.00k | 0.026% CA$ 970.8k | |
| Independent Trustee | 6.3yrs | CA$150.00k | no data | |
| Independent Trustee | 5.3yrs | CA$150.00k | no data |
6.2yrs
Average Tenure
59yo
Average Age
Experienced Board: GRP.U's board of directors are considered experienced (6.2 years average tenure).