Ford’s Alan Mulally awarded $58.3 million in stock for turning around the company

Ford CEO - Alan Mulally

FoMoCo CEO Alan Mulally has been awarded $58.3 million in stock as a reward for the Dearborn automaker’s turnaround. Ford paid the stock to the CEO as a part of an incentive tied to the company’s 2009 performance.

According to the U.S. Securities and Exchange Commission filing, Ford earned $29.5 billion in the last three years after $30.1 billion in losses from 2006 through 2008.

Mulally will also be given a salary and benefits for 2011, which will be revealed in the comping weeks.

Following taxes, Mulally will be given $34.5 million. FoMoCo has award the CEO stock worth more than $100 million in the past two years – or more money than he’ll know what to do with.

– By: Omar Rana

Source: AutoNews