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Chrysler pays CEO Marchionne less in 2013

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Chrysler pays CEO Marchionne less in 2013

Although the Fiat Chrysler Automobiles Chief Executive Officer Sergio Marchionne managed to reunite the company at the start of this year, for what he did in 2013 the US affiliate decided to pay him only $307,989 worth of salary and stock.

Chrysler Group LLC’s payment to its CEO was revealed in a filing with US regulators, but Marchionne’s total compensation is for sure a lot bigger – the total will be joined by Fiat’s businesses compensation – to be announced later this month.

Marchionne, 61, was compensated for being CEO of both Fiat SpA and Chrysler Group LLC – before they were fully merged – with a total of around 13.2 million euros, or $18.3 million in salary and equity. While in 2011, still fresh from the troubles it had form the bankruptcy, Marchionne declined compensation from the US automaker, in 2012 the US affiliate paid him a lot better than in 2013 – with a total of $1.23 million.

Back in January, Chrysler Group LLC, headquartered in Michigan and Fiat SpA, historically based in Italy were finally merged after the CEO signed a deal to acquire the remaining stakes from a UAW retiree health fund. The newly formed Fiat Chrysler Automobiles would have its base in the Netherlands, pay taxes in London and have its shares traded primarily in New York and secondarily in Milan.

Via Reuters

by Aurel Niculescu (my Google+) - Monday, March 10th, 2014 - filed under Chrysler, Fiat, Industry, News. Image credit: .
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