Ex-Boeing man and totally new to the automotive industry, Ford CEO Alan Mulally earned a total of $21.7 million in 2007, his first full year on the job. That includes $2 million in base salary, $7 million in incentive bonuses, more than $11 million in stock and stock-option related awards and $1.4 million in ‘other’ compensation.
“The year 2007 marked a major turning point for Ford Motor Company,” said Executive Chairman Bill Ford Jr., who still refuses to take his salary until the company’s automotive sector sees steady profit. “We made significant progress toward our plan to return to profitability in North America and in our total operations in 2009.”
Ford posted a $2.7 billion loss in 2007, an improvement over its crazy $12.6 billion loss in 2006. In 2007 Ford earned revenue of $17.2 billion.
Source: Detroit News
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