LILLEY: OLG prez quits amid dropping profits, questions on expenses

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Discussion posted by: itzfitzhere

The head of Ontario’s monopoly gambling operation is on his way out. Stephen Rigby, President and CEO of the Ontario Lottery and Gaming Corporation (OLG,) has resigned his position and is now negotiating his golden parachute. Rigby oversaw the organization at a time of increased revenue, lower profits for the province, and questions about his expenses — including expensive artwork rentals, lavish relocation expenses and renovations to his office. The big question now is whether Rigby receives a golden handshake on the way out the door. During his tenure, the gambling bigwig’s pay rose from an opening salary of $453,339 to $765,406 in just four years — a 69% increase despite declining results.