Ford’s Mulally made nearly $13 Million in 2009
Ford disclosed today that it paid Ford President and CEO Alan Mulally $12.87 million in total compensation in 2009 compared with $7.54 million in 2008 as the company fought through the worst automotive downturn in decades and reported a profit for the first time since 2005.
Ford also said Ford Executive Chairman Bill Ford Jr. continues to voluntarily forgo any compensation.
Ford also said Ford Executive Chairman Bill Ford Jr. continues to voluntarily forgo any compensation.
In 2009, Mulally received a salary of $1.4 million, stock awards worth $10.97 million and $491,869 in other compensation that includes benefits such as air travel, country club memberships, security and housing, Ford said in a regulatory filing today.
Mulally’s base salary decreased by 30% last year compared with $2 million in 2008 but his total compensation increased because of an increase in stock awards. Ford granted Mulally a total of 8.9 million Ford shares in 2009, which were worth an estimated $10.97 million when they were granted last February. That compares with stock awards worth $4.49 million in 2008. Detroit Free Press