AutoNation CEO gets first base salary increase in 12 years

Article by Christian A., on March 26, 2014

Mike Jackson, chief executive of AutoNation Inc., is getting an increase salary for the first time since 2002. AutoNation said in its proxy filing that Jackson will receive a base salary of $1.25 million this year, representing an increase of $100,000 over his salary for the past 12 years.

Despite his flat salary, Jackson’s overall compensation has varied in the past 12 years due to bonuses, stock options and allowances. In 2013, Jackson received a total pay of $6.28 million, compared to $6.55 million in 2012. He received a bonus of $1.65 million in 2013, down from $2.06 million in 2012. On the other hand, the value of stock options awarded to Jackson in 2013 surged to $3.32 million.

Jackson’s chief lieutenant, chief operating officer Mike Maroone, also received a lower overall pay in 2013 to $5.05 million. He received a total of $5.11 million in 2012. While $1 million base salary was unchanged, his bonus dropped to $1.07 million from $1.34 million. The value of stock options awarded to Maroone surged to $2.66 million, up from $2.53 million.

The compensation packages for AutoNation top two covered items like aircraft and vehicle allowances -- $164,951 for Jackson and $319,425 for Maroone. According to the proxy filing, AutoNation slightly improved its 2013 targets for the performance metrics that guide executive compensation. The company said bonuses were higher in 2012 since it was able to top its performance metric targets for that year by a larger margin.

Topics: autonation, ceo

If you liked the article, share on:

Comments

Recommended

We first heard of the fifth generation SEAT Ibiza earlier this year, and last week, the company finally revealed the all-new Ibiza at the international launch in Barcelona. The new...
by - May 22, 2017
The aftermath of the Takata airbag recall still largely resounds in the automotive industry, as big automotive companies like BMW, Mazda, Subaru and Toyota were extensively hit with what is...
by - May 22, 2017
Amid reports that major rival Volkswagen would cease producing 2016 and 2017 model year diesel cars following the wake of the "Dieselgate" scandal, it’s believed that Chevrolet sees its opportunity...
by - May 22, 2017
Honda recently whips out a new feature for the S660 Bruno Leather Edition. Any guesses? Well, it’s going to be an iPhone app that goes by the name Rev Beat....
by - May 22, 2017
And so it goes, Ford is not at all closing its doors to an all-electric F-150 pickup. The American manufacturer initially laid out its plans for an F-150 hybrid earlier...
by - May 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries