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Ford had a very good financial year in 2010, with the company's second consecutive year-over-year market share increase and a net profit of $6.6 billion. Those sparkling stats made Ford's stock jump, with 68 percent in total gains for the year. And when stock prices soar, so do the executives' compensation.
The Blue Oval filed its annual proxy with the U.S. Securities and Exchange Commission, and the fine print reveals some very happy executives. At the top, CEO Alan Mulally scored $1.4 million in salary, as well as $9.45 million in cash bonuses. Not a bad take-home, but the big cash comes after adding in long-term stock options, which brings the total to $26,520,515. If ever an auto exec were worth $26 million, Mulally is it.
Ford Chairman Bill Ford, Jr., didn't do so bad, either. Ford's $1.4 million salary and $2.7 million bonus is overshadowed by long-term stock options that balloon the total to $26,460,998. Ford's numbers are a bit misleading since the chairman opted not to take any compensation until the company was solidly profitable.
Mark Fields, President of Ford Americas, took in $8.8 million in total compensation, followed by CFO Lewis Booth at $8.2 million and manufacturing and labor boss John Fleming at a mere $5.9 million. If you're counting at home, the top six reaped a total of $75 million in compensation in 2010. Now that's a good year, folks. Hit the jump to read over Ford's cash-stuffed press release.
[Source: Ford | Image: AP Photo/J. Scott Applewhite]Continue reading Ford discloses exec salaries, Mulally package worth over $26M
Ford discloses exec salaries, Mulally package worth over $26M originally appeared on Autoblog on Fri, 01 Apr 2011 16:32:00 EST. Please see our terms for use of feeds.
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Ford had a very good financial year in 2010, with the company's second consecutive year-over-year market share increase and a net profit of $6.6 billion. Those sparkling stats made Ford's stock jump, with 68 percent in total gains for the year. And when stock prices soar, so do the executives' compensation.
The Blue Oval filed its annual proxy with the U.S. Securities and Exchange Commission, and the fine print reveals some very happy executives. At the top, CEO Alan Mulally scored $1.4 million in salary, as well as $9.45 million in cash bonuses. Not a bad take-home, but the big cash comes after adding in long-term stock options, which brings the total to $26,520,515. If ever an auto exec were worth $26 million, Mulally is it.
Ford Chairman Bill Ford, Jr., didn't do so bad, either. Ford's $1.4 million salary and $2.7 million bonus is overshadowed by long-term stock options that balloon the total to $26,460,998. Ford's numbers are a bit misleading since the chairman opted not to take any compensation until the company was solidly profitable.
Mark Fields, President of Ford Americas, took in $8.8 million in total compensation, followed by CFO Lewis Booth at $8.2 million and manufacturing and labor boss John Fleming at a mere $5.9 million. If you're counting at home, the top six reaped a total of $75 million in compensation in 2010. Now that's a good year, folks. Hit the jump to read over Ford's cash-stuffed press release.
[Source: Ford | Image: AP Photo/J. Scott Applewhite]Continue reading Ford discloses exec salaries, Mulally package worth over $26M
Ford discloses exec salaries, Mulally package worth over $26M originally appeared on Autoblog on Fri, 01 Apr 2011 16:32:00 EST. Please see our terms for use of feeds.
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