Strong auto sales often means there’s money to go around for workers. The top “worker” at Ford, Mark Fields, earned $18,596,497 in 2014 as the company earned a pre-tax profit of $6.3 billion.
Fields’ compensation, which is a combination of his base salary and stock awards, options and other awards, was an increase from 2013 when his compensation was $10,170,578 as Ford’s chief operating officer.
Fields, who took over as CEO on July 1, earned a base salary of $1,662,500 last year. His total compensation includes a $3,185,000 bonus, long-term stock options and other performance-based equity awards.
“We remain absolutely committed to aligning executive compensation with the company’s business performance and to tying a significant portion of executive compensation to long-term shareholder value,” Ford said in a statement.
Other current Ford executives and their compensation, include:
- Bill Ford, Ford’s executive chairman, earned $15,110,695 up from the $11,955,829 he made in 2013. That includes a base salary of $2 million, a bonus of $910,000 and various stock options.
- Bob Shanks, Ford’s executive vice president and chief financial officer, made $6,320,646 last year, up from $4,089,621.
- Joe Hinrichs, Ford’s president of the Americas, made $6,092,630, up from $4,409,949.
- Jim Farley, Ford’s president of Europe, Middle East & Africa, earned $4,494,764, up from $4,261,225.
The company’s former leader, Alan Mulally, did well in 2014 considering he worked just half the year. He earned $22,042,128 last year, which was down from the $23,204,534 he earned in 2013 – his last full year as CEO. In 2014, Mullaly’s compensation included a $1,000,000 base salary, a $3,185,000 bonus and various stock awards.
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Ford executives fared so well in 2014 because the company achieved 91% of its total 2014 targets, which include automotive revenue, automotive operating margin, operating-related cash flow, profit before tax and quality.
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Other auto executives reported strong earnings in 2014 as well. Fiat Chrysler Automobiles NV CEO Sergio Marchionne earned more than $35 million in 2014, according to the company’s annual filing with the U.S. Securities and Exchange Commission.
(To see why GM’s Mary Barra was named one of the world’s most influential leaders, Click Here.)
Much of his compensation came from a $30 million cash reward for being “instrumental in major strategic and financial accomplishments for the Group,” according to the filing.
Mary Barra is eligible to earn as much as $14.4 million, but General Motors Co. has not released its executive compensation yet.