Ford Motor executive chairman William Clay (Bill) Ford received a $2m salary, stock awards of $7.07m and various other payments totalling $12.9m, according to an SEC filing. President and CEO Mark Fields received a base salary of $1.75m, $12.1m in stock awards and a total 'compensation' package of $18.6m, down about $300,000 on 2014's pay.

CFO Robert Shanks received $830,000 in base salary and $3.5m in stock in a total package worth $5.6m.

Other well-remunerated executives were Americas chief Joseph Hinrichs ($6.4m in total) and EMEA region head James Farley ($5.8m).

Fourteen directors, including Edsel B Ford II, received fees of between $33,333 and $130,000 and stock awards between almost $50,000 and almost $150,000, according to the filing. Total awards for the year ranged between $107,169 and a one-off of $915,609 (Edsel Ford) with around $300,000 a typical figure.

Ford booked a pre-tax profit of $10.8bn in 2015.