In an era of executive excess, Chrysler CEO Sergio Marchionne made headlines, earlier this month, when it was reported he took no compensation for his work at the U.S. automaker last year. That was all the more impressive compared to the news, that same day, that Ford Chief Executive Alan Mulally had received $58.3 million in stock alone for 2011.
But for those wondering how deeply Marchionne might have to dig into his pockets to cover the reported $3.5 million home he recently purchased in the Detroit suburbs there’s no reason to worry. While he didn’t get money from Chrysler he did more than okay wearing his other hat, as CEO of the U.S. maker’s Italian partner Fiat.
In all, Marchionne took home 14.5 million Euros, or $18.9 million, last year, including $3.2 million in salary and another $15.69 million in stock that vested last year. Major companies like Ford and Fiat like to use stock as an incentive, the argument being that with enough shares an executive like Marchionne or Mulally will be motivated to maximize investor value.