Metrolinx’s new CEO could earn a $137K annual bonus payment. Here is a closer look at his contract

Michael Lindsay is the new CEO of Metrolinx. (Metrolinx)

The new CEO of Metrolinx won’t make as much as his predecessor but could still take home more than $800,000 thanks to a lucrative bonus package.

Michael Lindsay has been working as the interim CEO of Metrolinx since December 2024 but only took over as the agency’s permanent CEO on July 1.

According to an Order in Council detailing his three-year contract, Lindsay will earn an annual base salary of $686,566 but will also be eligible for a bonus payment of up to 20 per cent of his salary “based on his performance evaluation.”

If Lindsay maxes out the bonus payment, it would mean he would net an additional $137,313 in compensation in the form of a lump sum payment.

He will also receive six weeks of paid vacation each year, per the terms of the contract.

Phil Verster, the last Metrolinx CEO, made $883,99 in 2024, though it is not clear how much of Verster’s compensation came in the form of a bonus payment.

Verster was the fourth most paid public servant in 2024, according to the province’s 2024 Sunshine List. Lindsay’s salary would put him 23 on that list, excluding Verster.

Lindsay was previously the president and CEO of Infrastructure Ontario.

When he was named as Metrolinx’s permanent CEO on June 25, board chair Dan Wright said that he was “thrilled” to have Lindsay in the permanent position.

“His proven ability to inspire the team and drive progress during the interim period gives the board great confidence in his leadership as we move forward.” Wright said in a Metrolinx press release.

Lindsay takes over Metrolinx as work continues on finishing the much-delayed Eglinton crosstown LRT.

Premier Doug Ford has previously said that opening the line, which was initially supposed to be finished in 2020, should be Lindsey’s top priority and that he is “fully in charge and going to get it done.”

Ford has also indicated that it is possible the line could open as soon as September, though the former interim CEO of the TTC told a City of Toronto committee last week that he viewed that timeline as “a reach.”

“I think September is a reach,” Greg Percy said. “But, this fall is plausible, and certainly by year end. There’s lots and lots of stuff going on that we need to fix to open safely, and that’s what we’re focused on.”

In a Metrolinx press release in June, Lindsay said that he is looking forward to delivering “the modern and high-quality transit network our communities need and deserve.”