Item - 2024.RA15.4

The Board of Directors of CreateTO:

1. Directed the Chief Executive Officer, CreateTO to eliminate the Short-Term Incentive Plan (STIP) and adjust base salaries appropriately.

CreateTO is committed to establishing total compensation in a transparent, accountable, and consistent way that both safeguards the public interest and attracts, motivates, and retains top talent to support the organization’s success. This approach ensures value for money for CreateTO’s Board, the City of Toronto, and its taxpayers and ratepayers.

In March 2024, CreateTO's Board of Directors approved a motion to conduct a comprehensive review of the organization’s total compensation program. The review aims to evaluate how CreateTO's compensation aligns with current market trends and compares with similar public and private sector organizations. Attachment 1 provides an overview of the Total Compensation Review and includes recommended updates to CreateTO's compensation framework to maintain consistency with market standards.