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.
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
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