Ford paying big bucks to their new CEO Alan Mulally
September 9th, 2006 Leave a comment Visited 27 times, 1 so far today
Ford paying big bucks to their new CEO Alan Mulally
US based automaker Ford has revealed that they are paying around $18.5 million plus an annual salary of USD 2 million to their new CEO Alan Mulally.
Mulally was working in Boeing before he decided to join Ford in what is being seen as a desperate step from Ford to get back on track in the US market.
The USD 18.5 million dollar payment includes a hiring bonus of $7.5 million and $11 million to offset the compensation Mulally gave up by leaving Boeing.
Mulally is also being granted stock options worth about $10.5 million and $5.26 million in restricted stock grants.
He also gets another $11 million if Ford undergoes a change in control at the top before 2011.
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September 10th, 2006 at 12:12 pm
poor billy,had to pay 20 mill to find someone to do the bloody job. cut the dividend, then the health care then the pension.
April 6th, 2007 at 10:06 am
I am a working man in Vancouver. For 19 years, my income has averaged $11,000 a year. In the past 2 yrs, my income has jumped to just over $30,000 a year. I have never had a new car and for 90% of my life I haven’t had a car Realisticaly I don’t think I could ever aFord one. This new Ford CEO gets $28.5 million for a few month’s work. Do We have a 40,000,000 new car glut in Canada, or millions, like myself who can’t afford one? I think they should be banned from our cities .Improve mass transit. The big 3 keep making larger more ineficient cars, govts keep bailing them out and they prevent Cherry automotive of China from releasing their cars here where they would sell for $5,000 new. In cutting costs and employees all these big corporations have made an immediate killing, but in the long term impoverished consumers in the domestic market.