Ford CEO's Compensation Rose in 2009
NEW YORK (
) -- In 2009,
Ford's
(F) - Get Report
CEO Alan Mulally received total compensation of $17.9 million -- a roughly 6% increase from a year ago.
Mulally, according to SEC filings, was paid a salary of $1.4 million after a 30% pay cut while receiving the lion share of his pay through company stock. He received no bonus in 2009. In 2008, he received compensation of $17 million, also without bonus.
Stockpickr: Who Owns Ford?
Renaissance Technologies
George Soros
Ken Heebner
|
The compensation increase comes as Mullaly and his staff continue to be credited for turning Ford around, even as competitors like
GM
and
Chrysler
sought bankruptcy protection and government aid as the auto sector ailed -- and ushering Ford to 2009 earnings of $2.7 billion, its first yearly profit in four years.
-- Reported by Andrea Tse in New York
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