Ford’s CEO compensation at $17.4 million last year image

After a record pretax profit in 2015 for Ford Motor, automaker’s Chief Executive Officer Mark Fields salary and bonuses increased by 17 percent compared with a year earlier.

The Detroit-based automaker posted a 10.8-billion-dollar pretax profit for 2015, with all regions being profitable for Ford, except South America, with new records in North America and Asia Pacific. The company also made cash for the first time in Europe since 2011, due to an aggressive turnaround strategy that would also be carried on in the region this year. After this financial performance, Ford’s Chief Executive Officer Mark Fields reward was according to the results, with a 17.4-million-dollar compensation from salary, bonus and stock awards, 17 percent more than in 2014, according to an annual report filed with the US Securities and Exchange Commission. However, including pension and perks, Fields made 18.6 million dollars, 300 million dollars less than in the previous year, because of a 2.8 million lower pension award. As a comparison, Sergio Marchionne, the CEO of Fiat Chrysler Automobile, received last year a 4-million-dollar salary and a 6.85-million-dollar bonus, down from 38.0 million dollars in 2014 when he was awarded with a big merger-related bonus.

Ford expects to keep its strong financial performance in 2016, with pre-tax profit and its operating earnings to be equal to or higher than last year. As for its business units, the company projects North America will sustain its growth pace and it also sees Europe, Middle East & Africa, and Asia Pacific to be all profitable in 2016.

Via Reuters