Ed Martin severance package 'stinks of hypocrisy,' union head says

CUPENewfoundland and Labradorhead Wayne Lucas is angry over the amount of money former NalcorEnergy CEO Ed Martin received for his severance.

• $1.3M severance for Ed Martin from Nalcor

The energy corporation confirmed Wednesday Martin's final paychequewas$1.387,815.74.

"How are we expected to have faith in a government that, on the one hand, closes halfthe province's libraries for a projected savings of one million dollars, and hands overmore than that amount to one already wealthy executive,"Lucas said in a news release Thursday.

"The hypocrisy of this isstaggering."

Nalcor's manager of corporate communications, Deanne Fisher, said Martin's contractentitled him to severance of two times his salary of $685,000, bonus and vehicle allowance.

Lucas said the provincial government has attempted to remove CUPE members' "modest" severance packages in the last two rounds of bargaining.

What's more, Lucas said the severance is proof that it was not Martin's choice to step down as the head of Nalcor, after a decade at the helm.

Martin announced his departure two weeks ago. The next day, former Fortis Inc. CEO Stan Marshall was appointed the position.

A rally is planned for atConfederation Building Saturday, and Lucas is encouraging union members to join the protest.