Canada is home to some of the world’s most influential business leaders, whose vision and leadership have not only shaped industries but also amassed significant wealth.
In this feature, we introduce you to the people at the helm of these companies.
Canada’s 100 highest-paid CEOs earned an average of $13.2 million in 2023—210 times more than the average worker, according to a new study by the Canadian Centre for Policy Alternatives (CCPA).
By January 2 at 10:54 a.m., these CEOs had already earned what the average Canadian worker makes in a year. While CEO salaries have remained steady at $1.3 million, bonuses averaging $10.7 million drive the disparity. Despite myths, bonuses often rise regardless of company performance, further widening the pay gap.
Unfortunately the gender gap persists, too: with only three women made the top 100 list.
Here’s a look at the top 10:
Patrick Dovigi
GFL Environmental Inc. (Founder + CEO)
Salary: $68.5M
Under his leadership, GFL has grown exponentially, offering waste management, recycling, and environmental remediation services across Canada and the United States.
A former professional hockey player drafted by the Edmonton Oilers, Dovigi transitioned from the ice to the business world with the same determination and strategic mindset that defined his athletic career. He founded GFL in 2007, leveraging a keen ability to identify opportunities for consolidation in a fragmented industry. Over the years, his leadership has guided GFL through several major acquisitions, solidifying its reputation as a powerhouse in the environmental sector.
Joshua Kobza
Restaurant Brands International (CEO)
Salary: $39.1M
RBI, the parent company of globally renowned fast-food brands such as Burger King, Tim Hortons, Popeyes, and Firehouse Subs. Appointed as CEO in March 2023, Kobza brings a wealth of experience and a forward-thinking approach to leading one of the largest quick-service restaurant operators in the world.
Kobza, a Harvard graduate, joined RBI in 2012, and has held several key leadership roles, including Chief Operating Officer, Chief Financial Officer, and Chief Technology Officer. His expertise spans finance, operations, and technology.
R.M. Kruger
Suncor (CEO)
Salary: $36.8M
Rich Kruger is the President and CEO of Suncor Energy, one of Canada’s largest integrated energy companies.
Prior to joining Suncor, Kruger served as the CEO of Imperial Oil Limited, where he oversaw significant advancements in operational efficiency and strategic development. His leadership style is marked by a commitment to innovation, safety, and collaboration, ensuring that Suncor remains a leader in responsible energy production.
Alan Kestenbaum
Stelco Holdings Inc. (CEO)
Salary: $35.3M
Kestenbaum is the Executive Chairman and CEO of a leading Canadian steel company with a legacy of over a century.
Kestenbaum is a seasoned entrepreneur with extensive experience in metals, mining, and commodities. Before joining Stelco, he founded and led multiple ventures in the industry, earning a reputation for his ability to identify opportunities and drive business turnarounds.
Tobias Lütke
Shopify (CEO)
Salary: $26M
In addition to being its CEO, Lütke is also co-founder of Shopify, a global e-commerce platform that has revolutionized how businesses of all sizes build, manage, and grow their online stores. Founded in 2006, Shopify began as a solution to Lütke’s own challenges in setting up an online snowboard shop.
Originally from Germany, Lütke is a software developer by trade, and his technical expertise has been central to Shopify’s success.
Seetarama S. Kotagiri
Magna International (CEO)
Salary: $22.9M
Per Bank
Loblaw Companies Inc. (CEO)
Salary: $22.1M
Per Bank is both the President and CEO of Canada’s largest retailer, overseeing a diverse portfolio of grocery, pharmacy, and apparel brands, including Loblaws, Shoppers Drug Mart, and Joe Fresh.
Appointed in 2024, before joining Loblaw, Bank served as CEO of Salling Group, Denmark’s largest retailer, where he was credited with modernizing operations, expanding digital capabilities, and prioritizing sustainability initiatives. His leadership style is marked by a strong focus on strategic execution and fostering a culture of innovation.
Thomas J. Appio
Bausch Health Companies Inc., (CEO)
Salary: $21.4M
A global pharmaceutical leader focused on delivering high-quality, accessible healthcare solutions Appio was appointed CEO in June 2022, and oversees the company’s diverse portfolio, which spans prescription pharmaceuticals, medical devices, and over-the-counter products across various therapeutic areas, including eye health, dermatology, and gastroenterology.
Prior to becoming CEO, he served as President of Bausch + Lomb/International, where he was instrumental in driving growth and operational excellence across more than 100 countries.
Darren Entwistle
TELUS Corp., (CEO)
Salary: $21.1M
Since taking the helm of one of Canada’s largest Telecom companies in 2000, Entwistle has transformed TELUS from a regional telecom provider into a global leader in communications, digital health, agriculture technology, and sustainability.
Entwistle’s vision has driven TELUS to invest over $240 billion in technology and infrastructure, enabling world-class broadband connectivity across Canada and bridging the digital divide in underserved communities. He is also a pioneer in corporate philanthropy, founding the TELUS Community Boards and spearheading initiatives that have contributed more than $1 billion to charitable and community causes.
Keith E. Creel
Canadian Pacific Kansas City, (CEO)
Salary: $20M
President and CEO of Canadian Pacific Kansas City (CPKC), North America’s first and only transnational railway Creel was appointed CEO in 2017, Creel has played a pivotal role in the historic merger between Canadian Pacific and Kansas City Southern, creating an integrated rail network that spans Canada, the United States, and Mexico. This groundbreaking achievement positions CPKC as a leader in efficient, sustainable, and customer-focused transportation solutions.
Creel began his railway career in 1992 and has held leadership roles across multiple Class I railroads, including Canadian National Railway and Burlington Northern Railroad. Known for his commitment to operational excellence, safety, and innovation, Creel has transformed CPKC into one of the most efficient railways in the world.
