By Mike Colias, Crain News Service
DETROIT (Feb. 11, 2014) — General Motors Co. expects to pay CEO Mary Barra about $14.4 million this year.
GM released the compensation amount Feb. 10 in response to reports speculating on her compensation compared with that of retired CEO Dan Akerson.
Ms. Barra, 52, will be paid a salary of $1.6 million, short-term incentives of $2.8 million and long-term compensation of $10 million. Her $14.4 million total compares with $9 million that Mr. Akerson was paid in 2012. He retired as CEO on Jan. 15. GM has not yet disclosed Mr. Akerson’s compensation for 2013.
Ms. Barra’s pay has been the subject of speculation since GM said last month that a portion of her pay would total $4.4 million—below that of Mr. Akerson. At the time, GM did not disclose Ms. Barra’s long-term compensation because it was subject to approval by GM stockholders in June.
Still, some commentators had questioned why GM would pay a female CEO less than her predecessor.
GM disclosed her total pay Feb. 10, ahead of its proxy filing in April, “to correct misperceptions created by comparisons that used only a portion of Barra’s overall compensation,” GM said in a statement.
“As a new CEO, Mary’s total compensation is in line with her peer group and properly weighted so that most is at-risk,” GM Chairman Tim Solso said in a statement. “The company’s performance will ultimately determine how much she is paid.”
This report appeared on the website of Automotive News, a Detroit-based sister publication of Tire Business.
Titan International and the United Steelworkers union have petitioned the U.S. International Trade Commission and U.S. Department of Commerce seeking relief from OTR tire imports from China, India and Sri Lanka. What’s your opinion?
|I wholeheartedly support their action – something needs to be done.||
|I think it’s a bad idea that could inevitably tie the hands of domestic tire makers.||
|I oppose any duties against tire importers—they only raise costs for distributors and make it harder to obtain inventory.||
|I’m kind of on the fence and not sure what’s right, but need more information before deciding.||
|I don’t really care whether or not relief is granted.||
|Total votes: 78|