Ford’s new chief executive, Alan Mulally, is being paid a one-time fee of US$18.5m to join Ford, and will receive an annual salary of US$2m, according to Reuters, which cited a filing with the US Securities and Exchange Commission.

The sign-on fee comprises a hiring bonus of US$7.5m and US$11m to offset the loss of payments Mulally would have received if he had continued as head of Boeing’s commercial plane division.

The new head of Ford has also been granted stock options worth around US$10.5m and US$5.26m in restricted stock grants, and is entitled to a payment of US$11m if the automaker replaces Mulally as CEO before 2011.

At Boeing, Mulally was awarded a package of around US$9.96m in 2005, according to Reuters.

GM’s chief executive, Rick Wagoner, made around US$5.5m in 2005.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.