GM yesterday announced a pay increase for its top executives returning CEO Rick Wagoner’s base salary back to its 2003-2006 level. GM listed Wagoner’s 2008 base salary as $2.2 million up from $1.65 million in 2007. Firtz Henderson’s salary increased to $1.8 million while Bob Lutz’s got a boost to $1.7 million, up from $1.3 million.
Total 2007 compensation for the executives including base salary, stock awards, options and other income, was: Wagoner at $14.4 million; Henderson at $7.6 million; and Lutz at $6.9 million.
Comparing that to Wagoner’s counterpart at Ford, Mulally earned a total of $21.7 million in 2007, his first full year on the job. That’s a difference of $7.3 million between the two.
Ford earned a base salary of $2 million, $7 million in incentive bonuses, more than $11 million in stock and stock-option related awards and $1.4 million in “˜other” compensation.
Don’t be so sad Rick, at least your base salary is higher than Mulallys.
Source: Automotive News (Subscription Required)