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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.


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.


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.


Mulally, Bill Ford Reap the Rewards of Their Success

Top two Ford execs getting nearly $100 mil in stock.

by on Mar.08, 2011

Ford CEO Alan Mulally (shown here) and Chairman Bill Ford collected nearly $100 million in stock bonuses.

Ford Motor Co. has awarded nearly $100 million in stock to its top two executives, CEO Alan Mulally and Chairman Bill Ford, as a reward for the company’s strong performance.

The maker turned in a $6.6 billion profit, last year, its best earnings report since 1999, and a significant turnaround for a company that lost $31.4 billion between 2005 and 2009.  Ford was, however, the only Detroit maker to avoid filing for Chapter 11 bankruptcy protection two years ago.

The maker’s stock has risen roughly 14-fold since it hit bottom, in 2008, though Ford shares were priced at $14.50 at midday Tuesday, down from a 52-week peak of $18.97, reflecting concerns about the Libyan crisis and the automaker’s weaker-than-anticipated fourth quarter.

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Mulally was awarded 3.8 million shares of stock, priced at $14.76 a share, for a total of $56 million.  William Clay Ford Jr. was presented 2.87 million shares, worth $42.4 million.

The two executives had to cover taxes, however, the company withholding $23 million in stock for Mulally, and $17 million in Ford’s shares.