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Posts Tagged ‘executive compensation’

Ford Gives Mulally a 10-Percent Raise in 2013

Most of company’s top executives also get increases.

by on Mar.28, 2014

Based on his 2013 compensation, Ford CEO Alan Mulally could buy a few 2015 Mustangs.

Ford Motor Co. boosted the compensation of chief executive officer Alan Mulally by approximately 10% in last year to $23,204,534 from the $20,955,806 he earned during 2012, according to the company annual proxy statement, which was filed with Securities Exchange Commission.

Mark Fields, Ford chief operating officer, got a 20% bump in salary to $10.370,578, while executive chairman William Clay Ford Jr., took a pay cut as his salary dropped to $11,955,829 from $14,836,013. The drop was followed a $3.2 million drop in Ford’s deferred compensation, which fell to zero in 2013.

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Robert Shanks, Ford’s chief financial officer, saw his 2013 compensation also dropped by 20% to $4,089,621 as the deferred compensation fell to zero last year from $1.9 million in 2012. (more…)

What’s a CEO Worth? Detroit Exec’s Pay Varies Wildly

Chrysler’s Marchionne at the bottom of the list – but Fiat earnings could help out.

by on Mar.07, 2014

Sergio Marchionne, FCA CEO, received a paltry salary from Chrysler last year compared with his CEO counterparts Alan Mulally and Mary Barra.

Despite managing a major turnaround of both Fiat and Chrysler – and the recent merger of the two companies, Sergio Marchionne took home a relatively modest $307,989 in compensation from the U.S. maker last year – barely 1% of what Alan Mulally, the CEO of rival Ford Motor Co., took home in stock alone.

In fact, Marchionne actually earned less than four other executives at Chrysler. And unless the newly merged Fiat Chrysler Automobiles, or FCA, ups the ante, Marchionne won’t do much better when compared to Mary Barra, General Motors’ new CEO, who is expected to earn $14.4 million for 2014.

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Barra’s proposed compensation package was revealed last month after GM scrambled to offset a backlash from earlier reports suggesting the company’s first female CEO would get less pay than the man she replaced. Meanwhile, Ford and Chrysler are just releasing their own top management pay numbers as part of their annual filings with the SEC. (more…)

Marchionne Takes Home $0 from Chrysler – but $18.9 mil from Fiat

The night job pays off.

by on Mar.15, 2012

Why is this man smiling? An $18.9 million paycheck certainly helps.

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.

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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.