Ghosn Top Earner In Japan For Fourth Time In Five Years
Renault-Nissan CEO Carlos Ghosn will once more be graced with the honor of being the highest paid executive at a Japanese corporation, having held the honor three previous times in the past five years.
Bloomberg reports Ghosn made ¥995 million ($9.76 million USD) in salary and bonuses for fiscal year 2013, which ended March 31 of this year; total compensation, including dividends, amounts to ¥10 billion ($9.81 million). This puts the CEO ahead of Toyota president Akio Toyoda, who made four times less than Ghosn despite Nissan eking out a profit amid incentive spending and recall costs in the same period. However, Toyoda’s ¥757 million ($7.42 million) in dividends narrows the gap between the two leaders.
Though Ghosn may be killing it in Japan, his total earnings are outgunned by those of his standing among European and U.S. automakers. Outgoing Ford CEO Alan Mullaly earned $23 million in total compensation last year, while GM CEO Mary Barra may receive as much as $14.4 million at the end of FY 2014. Meanwhile, VW boss Martin Winterkorn took home €15 million ($20 million) and Daimler’s doctor Dieter Zetche made €8.25 million ($11.2 million) in 2013. Renault paid €2.3 million ($3.1 million) to Ghosn, bringing total earnings from the alliance to around $13 million USD..
Seattle-based writer, blogger, and photographer for many a publication. Born in Louisville. Raised in Kansas. Where I lay my head is home.
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"Though Ghosn may be killing it in Japan, his total earnings are outgunned by those of his standing among European and U.S. automakers." Consider the salaries of Rick Wagoner, Jack Smith or Roger Smith. Then consider the salaries of Fujio Cho or Katsuaki Watanabe (Toyota) or Takanobu Ito or Takeo Fukui (Honda), which are about an order of magnitude less. Now, compensation is not comparable between cultures, but _come on_.
Well, Japan doesn't have a tradition of rock star CEOs, though some of the company perks they get allow them to live like princes. Does Japan have an equivalent to the IRS, monetizing those perks and adding the amount to taxable compensation?
No surprise that Ghosn is being paid with massive yen. He cut all executive fringed benefits. No more hostess bars, karaoke bars, and extravagant dinners. His first meeting with executives were in a ramen shop. It's no wonder...
"...having held the honor three previous times in the past five years." Wouldn't that mean, then, that he is now the "Top Earner In Japan For Fourth Time In _SIX_ Years", since this year is not -- unless we're in Punxsutawney, Pennsylvania year-round -- one of the past five years?