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Ford CEO Mulally Pay Dips to Just $21 Mil

Exec credited with saving Ford drew $30 mil year before.

by on Mar.15, 2013

Ford CEO Alan Mulally.

Compared to his counterpart at General Motors, Alan Mulally was a well-paid man last year, taking home $21 million as part of a package including salary, bonuses and stock options. But the Ford Motor Co. CEO nonetheless saw his compensation dip from the $29.5 million he made in 2011.

Given much of the credit for helping save the second-largest of the domestic makers – and helping it steer through the Great Recession without the federal bailouts taken by cross-town rivals GM and Chrysler, Mulally has still been rewarded handsomely since leaving Boeing in 2006, Ford financial statements pegging his total earnings at $169.3 million.

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Mulally’s 2012 earnings were disclosed in Ford’s latest proxy statement. It shows he got the same $2 million salary as the year before, but stock options fell from $21.4 million to $14.3 million, while the exec’s bonuses tumbled from $5.5 million to $3.95 million.

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GM Execs’ Pay Frozen by Feds

Government overseer rejects pay hikes at companies bailed out by feds.

by on Apr.09, 2012

GM CEO Dan Akerson testifying before Congress earlier this year.

Pity poor Dan Akerson.  He’s delivered the sort of financial turnaround seldom seen in the business world, taking once-bankrupt General Motors to multi-billion-dollar profitability.  But that won’t be enough to earn him a pay hike this year, according to the U.S. Treasury Dept., which has the final say on compensation for the maker’s top 25 executives.

Don’t pity Akerson too much.  He’ll still take home about $9 million this year, including $1.7 million in salary and another $7.3 million in various forms of stock compensation.  But that’s significantly less than his crosstown counterparts.  Ford Motor Co. CEO Alan Mulally got a $29.5 million pay package, the maker announced last week, on top of more than $57 million in long-term stock compensation.

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The federal government began overseeing the salaries of GM executives in 2009 along with those at other companies who received bailout funds under the so-called TARP program.  Most of those firms have since paid off their loans and are no longer subject to the review of a federal pay overseer.  But GM — which is still 26.5% owned by the Treasury – is still covered, as are Ally Financial, the former GMAC, and giant AIAG.

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Big Payday for Ford’s Mulally

Exec lands $29.5 mil in pay – after $58.3 mil stock package.

by on Mar.30, 2012

Ford CEO Alan Mulally at a Paris news conference.

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.

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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.

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Big Payday for GM’s Akerson

But payout is a pittance compared to Ford’s Mulally.

by on Mar.20, 2012

GM Chairman and CEO Akerson won't be able to cash out for several years.

General Motors Chairman Dan Akerson is getting a big payday – though he won’t be able to cash the check for a couple of years.

Akerson, who also serves as GM’s chief executive has been awarded 76,249 shares of restricted stock, according to paperwork the maker has filed with the federal government –which still owns about a third of GM’s stock and has oversight on pay issues for the company’s top executives.

Based on the recent price range for GM stock that would work out to somewhere around $2 million — $1.94 million, to be precise, based on what the shares closed at on Monday.  But if GM stock comes close to the $33 it commanded when the maker held its November 2010 IPO that would add more than $500,000 to the payout.

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Akerson will have time to wait and see, as he cannot cash in for several more years.  He can convert two-thirds of the award to common stock on March 15, 2014 and the rest a year later.  And he will have to remain a continuous GM employee for the duration or risk losing his stock bonus.

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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.

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Mulally Makes Millions – Marchionne Zip – for 2011

Ford exec not limited by government oversight.

by on Mar.07, 2012

Ford CEO Alan Mulally had a good pay day this week.

Ford Motor Co. has clearly benefited from the fact that it was the only Detroit automaker to skip a government bailout.  So has its CEO Alan Mulally, who received a whopping $58.3 million in stock as part of a long-term incentive package.

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Many analysts believe Ford has drawn in a sizable number of customers willing to reward it for finding its own way through the industry’s worst downturn in decades – unlike its cross-town rivals.  But there was another penalty for taking government aid totaling around $85 billion during 2008 and 2009, the companies covered by the federal automotive bailout face strict limits on the compensation senior executive can make without Washington’s approval.

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