The turnaround at Ford may not be playing out quite as fast as shareholders would like but it’s certainly delivering for CEO Alan Mulally, who landed a $29.5 million compensation package for 2011, the maker has revealed.
That’s more than double what the number two Detroit maker gave Ford family heir and company CEO Bill Ford in the form of pay and bonuses. And Mulally’s big payday follows the announcement earlier this month that the former Boeing executive had received $58.3 million as part of a long-term incentive package.
Few executives in the auto industry have received more kudos than Mulally, who is credited with initiating many of the critical steps needed to not only revive Ford Motor Co. but also help it sidestep the bankruptcy-and-bailout route taken by its cross town rivals, General Motors and Chrysler, in 2009.
Nonetheless, there has been at least some pushback.