GM disclosed in a federal filing that Mary Barra, its new chief executive officer and the auto industry’s first female CEO, will be paid up to $4.4 million in cash and stock compensation this year.
The package for Barra, who assumed her new role on Wednesday, does not include what she and other executives will receive under the long-term compensation plan, which is subject to shareholder approval in June. GM will disclose those details in April.
In documents filed with the U.S. Securities and Exchange Commission, the automaker revealed hat Barra, 52, will receive an annual cash base salary of $1.6 million. She also will be eligible for $2.8 million under the company’s short-term incentive plan.
GM has not yet disclosed what former CEO Dan Akerson was paid in 2013, but the previous year he was paid $11.1 million, including $1.7 million in cash and $7.3 million in stock and other incentives. The 2012 figure also reflected $2 million in restricted stock units that he received in 2011.
GM also said on Friday that new President Dan Ammann, the former chief financial officer, will be paid just over $2 million. The cash base salary is $900,000 and he is eligible for $1.125 million under the short-term plan, according to the SEC documents.
Ammann’s successor as CFO, Chuck Stevens, will receive an annual cash base salary of $700,000 and will be eligible for $875,000 under the short-term plan, according to the SEC documents.
by Aurel Niculescu
) - Monday, January 20th, 2014 - filed under General Motors
. Image credit: .
Discuss: GM’s new CEO compensated in 2014 with around $4.4 million