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A Good Year For Ford Means A Good Paycheck For Top Executives

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Ford CEO Alan Mulally. (Getty Images File)

Ford CEO Alan Mulally. (Getty Images File)

jeffgilbert Jeff Gilbert
Automotive reporter for WWJ Newsradio 950 and CBS Radio News....
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CBS Detroit (con't)

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DEARBORN — (WWJ) Ford CEO Alan Mulally got an eleven percent raise in 2011, earning $29.5 million dollars. This comes as the company posted strong profits of $7.8 billion dollars, not including some one-time gains.

Mulally’s base pay was $2 million, along with stock awards. He could have made more money, but his performance bonus fell 42 percent, because Ford didn’t meet certain market share and quality targets in emerging markets.

The information was contained in Ford’s annual Proxy statement, filed with the Securities and Exchange Commission today. That report is required to detail the earnings of top executives.

Total 2011 compensation for the five current Named Executive Officers–as released by Ford Motor Company–is:

  • Alan Mulally, president and CEO, earned $2,000,000 in salary and $5,460,000 in cash bonus in 2011. Mulally’s total listed compensation – including the grant date value of long-term stock options and other performance-based equity awards – was $29,497,572.
  • Bill Ford, executive chairman, earned $2,000,000 in salary and $1,560,000 in cash bonus in 2011. Bill Ford’s total listed compensation for 2011– including the grant date value of long-term stock options and other performance-based equity awards – was $14,458,146.
  • Mark Fields, Ford executive vice president and president, The Americas, earned $1,350,000 in salary and $1,500,000 in cash bonus in 2011. His total listed compensation – including the grant date value of long-term stock options and other performance-based equity awards – was $8,840,183.
  • Lewis Booth, Ford executive vice president and chief financial officer, earned $1,250,000 in salary and $1,400,000 in cash bonus in 2011. His total listed compensation – including the grant date value of long-term stock options and other performance-based equity – was $7,731,816.
  • Joe Hinrichs, Ford group vice president and president of Asia Pacific and Africa, earned $751,250 in salary and $925,000 in cash bonus in 2011. His total listed compensation – including the grant date value of long-term stock options and other performance-based equity awards – was $5,302,360.

Mulally’s pay has been criticized by the UAW as “morally wrong.” But, Ford says that the majority of his compensation is tied to the success of the company.

Mulally has earned $137 million since joining Ford in 2006.

Ford also announced today that its annual shareholders meeting will be held Thursday, May 10th in Wilmington, Deleware.

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