Ford Pays CEO Mulally $4.1m in Stock. And Then Some.
Not to be outdone by GM CEO Rick Wagoner's $2.2m salary re-raise, 165,563 shares, 500k stock options and 75k restricted stock units; FoMoCo has just paid CEO Alan Mulally $4m in Blue Oval stock and $3.56m worth of stock options. (That is, of course, on top of Mulally's $2m base salary and the $35m in compensation Ford's paid their CEO for his first 14 months of service). As Automotive News [sub] reports, the former Boeing executive's new compensation package comes hot on the heels of his employer's $2.7b '07 loss. More to the point (if not for shareholders), the gravy train rumbling through Dearborn could anger Ford's union workforce looking at buyouts, buydowns and piss-offs. Or not. Coincidentally enough, Mulally's bonanza comes just two days after Big Al announced a $1k bonus for all Ford's United Auto Workers (UAW) members. And the fact that the announcement is hitting the wires on the weekend? More uninvited serendipity, surely. Bottom line: the bottom line has no relation to Motown executive pay.
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