General Motors CEO Barra to earn $14.4 million in 2014
Quotes

General Motors CEO Barra to earn $14.4 million in 2014

Last Updated: Tuesday, February 11, 2014, 10:36
 
 Comment 0
 
General Motors CEO Barra to earn $14.4 million in 2014
Washington: General Motors Co's (GM.N) Mary Barra, the auto industry's first female chief executive officer, will be paid $14.4 million in cash and stock this year, 60 percent more than her predecessor, the automaker disclosed on Monday.

GM had previously said Barra, 52, would receive up to $4.4 million in cash and stock compensation this year, but that amount did not include what she would receive under the company's long-term compensation plan, which totals $10 million.

The long-term portion is subject to shareholder approval at the company's annual meeting in June. GM said Barra's total is an increase of 60 percent over her predecessor, Dan Akerson, who stepped down last month.

GM said it was releasing the figures ahead of its proxy filing in April "to correct misperceptions created by comparisons that used only a portion of Barra's overall compensation."

"As a new CEO, Mary's total compensation is in line with her peer group and properly weighted so that most is at-risk," GM Chairman Tim Solso said in a statement. "The company's performance will ultimately determine how much she is paid."

GM did not disclose Akerson's 2013 compensation, but the previous year the No. 1 U.S. automaker paid him $9 million in cash and stock. His 2012 compensation also included $2 million in restricted stock units that he received in 2011.


Reuters

First Published: Tuesday, February 11, 2014, 09:45


Comments


comments powered by Disqus
Honda Mobilio MPV
Honda Mobilio MPV
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved