egmCarTech

While Bill Ford is still forgoing any compensation until the company’s automotive sector reaches sustainable profit, CEO Alan Mulally has just received $4.1 million worth of stock and 3.56 million in stock option after a year in which FoMoCo lost $2.7 billion.

The compensation comes just two days after Mulally announced that all Ford employees in the U.S. and Canada would be paid bonuses for 2007.

Mulally’s counterpart at GM was approved for a 33 percent base salary hike last week. GM said that it would give Rick Wagoner a bonus for $2.43 million if the automaker hits its performance targets.

The issue of executive compensation has become a hot-issue because of the UAW.

Mulally was paid $37.5 million during his first 14 months with FoMoCo and had the potential to earn a bonus of an additional $3.1 million.

 

Source: Automotive News (Subscription Required)

[tags]Cars, Car, Auto, Automobile, Vehicles, Technology, Auto News, News, Automotive, Ford[/tags]

Related Posts:

1. U.S. has paid 98% of all Clunker claims, $61.6 million has not been paid
2. Ford offering 300 million shares of common stock to raise cash
3. Ford to sell $500 million in new stock
4. Ford CEO Alan Mulally earned $21.7 million in 2007
5. Ford CEO makes $39.1 million for four months