Fiat Chrysler CEO Sergio Marchionne earned about US$8m in 2014, up $3m from the previous year, according to the Detroit News, citing the company’s annual filing with the US Securities and Exchange Commission.
Marchionne’s 2014 earnings included an annual salary of over EUR2.5m ($3m); EUR4m ($4.9m) in annual incentives related to the company’s performance and EUR111,410 ($135,251) in other compensation.
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The paper said Marchionne was by far the highest paid executive or board member disclosed in the 20-F filing for the world’s seventh-largest automaker, which paid board directors for Fiat Chrysler and the former Fiat SpA a total of about EUR11.2m ($13.6m) in total compensation for 2014, including EUR6.8m ($8.3m) in salaries.
Marchionne, as in 2013, did not accept a salary for his duties as CEO and chairman of FCA US in 2014, the Detroit News said.
The report noted Marchionne was expected to have earned more than Ford CEO Mark Fields but less than General Motors CEO Mary Barra.
Though neither Ford nor GM have disclosed their final 2014 executive compensation for their first-year CEOs, Fields, without stock options, was expected to make $5.25m in salary and bonuses. Barra could have earned as much as $14.4m, but is expected to have earned less due to the company’s recall crisis impacting incentives.
