U.S. group Ford awarded its Chief Executive Officer, Alan Mulally, shares worth 58.3 million dollars as a reward for bringing the automaker on profit in the last three years, after losses in the period 2006-2008, according to Bloomberg. Ford awarded the compensation package under a plan in 2009 as management incentives in the longer term evolution of the group. Ford had a profit of $29.5 billion over the last three years, after losses of $30.1 billion in the period 2006 to 2008.
Ford shares, which traded in November 2008 at $1.01, closed Tuesday at $12.09 on the American stock market. These shares are not part of Mulally’s compensation package last year, which data will be published in coming weeks. After tax, Ford CEO will get shares worth $34.5 million. In the last two years, Ford’s Mulally received stock worth over 100 million dollars. Last year, United Auto Workers union President Bob King said Mulally’s compensation package is “defiant” and “excessive”. In 2010, Ford rewarded Alan Mulally with shares worth 56.5 million dollars.
Dan Akerson, Chairman and CEO of General Motors (GM), whose wages must be certified by U.S. authorities after the group was saved from bankruptcy with public funds, said in January that he will receive a cash bonus for 2011, year in which the Group had a record profit. Akerson was in 2010 only four months the head of GM, the period for which he received a total salary of $2.53 million.
Martin Winterkorn, Chairman of the Board of Management of Volkswagen AG, was in 2010 the highest paid corporate chief in Germany, with €9.3 million, including salary and stock options to purchase, according to a study of DSW, an association that brings together private investors.
Carlos Ghosn, Chairman and CEO of Nisan, received a total compensation of 982 million yen ($12.2 million) for fiscal year 2010, including salary and titles options. Ghosn was the highest paid CEO among Japanese companies.