We’re not sure why everyone is so concerned with what Sergio Marchionne made in 2010 but if you’ve been following his salary, we have an update for you. Marchionne received no salary as CEO of Chrysler Group LLC. However, he did receive 361,446 shares for his role as a director, according to a document Chrysler filed today with the Securities and Exchange Commission.
Marchionne also received deferred compensation that Chrysler now values at $2.87 million, but he can’t take that until some point in the future.
Other top executives at Chrysler received government-approved salaries ranging from $410,000 for Michael Manley, CEO of Jeep; $455,000 for Nancy Rae, senior vice president of human resources, $485,000 for Holly Leese, senior vice president and general counsel, and $500,000 for CFO Richard Palmer.
It was reported earlier this week that Marchionne made $4.8 million as CEO of Fiat SpA, 27 percent less than his total compensation in 2009. With that in mind, we think Marchionne will survive.
– By: Omar Rana
Source: Free Press