Chrysler Gave CEO Marchionne $1.2M in 2012 in Stock Awards

Chrysler’s CEO Sergio Marchionne received $1.2 million in 2012 and four other top executives were offered bonuses that more than double their compensation from 2011.

Marchionne’s compensation included $1.1 million in stock awards or stock options for his service as a member of the automaker’s board and $102,366 which is the company perks, such as housing expenses. In the following weeks Fiat and Fiat Industrial will also report what they paid Sergio Marchionne last year. It is known that in 2011 the two companies paid the CEO $22.2 million in total.

Chrysler said that four other top executives saw their compensation for 2012 more than double as they became eligible for a bonus and were part for the first time of a performance program. Richard Palmer, Chrysler’s CFO and senior vice president received $3.7 million, including a $474,000 bonus, Holly Leese, former general counsel, received $4.1 million, including a $312,100 bonus, Nancy Rae, senior vice president of human resources, was offered $3.3 million, including a $374,130 bonus and Michael Manley, senior vice president of international operations and CEO of Jeep, received $3 million, including a $380,000 bonus.

The company added that Marchionne was not offered any money in bonuses or salary in 2012 and has not received from the US automaker any cash salary since 2009 when he became CEO for the company.