For 2012 Ford CEO Alan Mulally remained the highest paid CEO among the North American automakers.
In 2012 Mulally took $68,443,381, compared with $68,247,702 in 2011, reaching the top of last year’s list after he got the third place in 2010. Almost 90% of Mulally’s compensation came from stock award gains, the same as in 2011, and his salary was $2 million, plus $3.95 million from incentive plans and bonuses, plus $467,790 in stock options gains, plus $680,809 from other sources.
Aaron Boyd, director of governance research for Equilar Inc., said that Alan Mulally is now taking advantage of the benefits of stock awards it got in the past several years when prices were lower.
“Because of that, the way they were paying him back in those days, they were basically saying, ‘If you can get this company to grow and get them back on solid ground, and bring some returns to investors, then you’re going to benefit as well,'” Boyd said, noting that the awards are vesting at very good prices.
Although Mullaly’s salary was almost the same as in 2011, Bill Ford, the automaker’s executive chairman, saw his compensation fall more than half compared with 2011. Last year Ford earned $21,128,918, a drop of 55% compared with 2011.