Most people would probably be reluctant to negotiate away their job, especially if it came with a salary of more than $750,000 and lucrative perquisites.
But that’s what Brian Hayward did, and he said he doesn’t consider it to be a big deal.
“It’s part of the game of being a CEO,” he said.
The chief executive officer of Agricore United will find himself out of a job if the proposed deal between AU and James Richardson International goes through.
Under the terms of the deal, the CEO of the new company, to be called Richardson Agricore, will be Kurt Vossen, now the top man at JRI.
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federal government proposed several months ago to increase the compensation rate from 80 to 90 per cent and double the maximum payment from $3 million to $6 million
The 51-year-old Hayward, who began working for United Grain Growers as a grain market analyst in 1981, could be unemployed.
Hayward, who was intimately involved in the negotiations leading up to the Feb. 21 announcement, acknowledged he has mixed emotions about the potential demise of AU, a company he has led since it was created through the merger of UGG and Agricore Co-operative in 2001.
But at the same time he’s an enthusiastic supporter of the proposed deal.
“I believe in this transaction personally,” he said, saying the two companies, farmers and the Canadian grain industry will benefit.
“The feedback from everyone I’ve talked to, and from customers and employees, has been positive to this.”
Asked if he might be involved in the new company in any capacity, he said he wouldn’t speculate about his future.
“I’m the CEO of Agricore United until the company’s shareholders decide whether to sell out to the new company,” he said. “Who knows what might happen before then?”
