GM CEO Dan Akerson received only $2.53 million in 2010

Article by Christian A., on April 25, 2011

How much the top executives of bailed-out General Motors Co. are paid is a subject that many people, especially in government, find interesting. Ford Motor Company had more than $25 million in stock awards. According to a statement GM filed last Thursday with the U.S. Securities and Exchange Commission, Dan Akerson was paid only $2.53 million in 2010.

This is only 1/20th of what Ford’s top executive received. However, it should be noted that Akerson has only been the CEO of GM for four months.

He got $566,667 in salary plus $1.76 million in stock awards for his contribution since he started on the job on Sept.1. His pay includes the work as chairman of the board of directors.

Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware in Newark, Delaware, said that these salaries are “not outrageous” for a company of GM's size.

For 2011, Akerson’s full-year compensation package will amount to $9 million (similar to what his predecessor earned), which includes $1.7 million in base salary and $7.3 million in stock bonuses.

Chrysler CEO Sergio Marchionne didn’t receive a salary in 2010 but he got a compensation of $4.8 million as CEO of the Italian partner of Chrysler.

Meanwhile, Bob Lutz, the former GM vice chairman and product chief, has been giving advice to GM but he won’t receive payment this year. Lutz said that when news came out that he will get compensation, it “caused a big stir in the Treasury Department."

Topics: gm, dan akerson

If you liked the article, share on:

Comments

Recommended

The BMW M model, as of today, offers their buyers two transmission options: either a six-speed manual or a seven speed dual-clutch automatic. But rumours have been circulating that these...
by - April 24, 2017
Not so long ago, the 2018 Genesis G80 Sport made its debut at the 2016 LA Auto Show. But at that time, it did not have a price yet. And...
by - April 23, 2017
It seems like an increase in price has become a trend for automotive companies lately. Genesis isn’t alone when it comes to this. Subaru had just announced that the 2018...
by - April 23, 2017
Imagine a sports car morphing into an SUV. Chevrolet initially revealed the FNR Concept at the previous Shanghai Auto Show in 2015. For this year, Chevy once again graces the...
by - April 22, 2017
From the moment FCA kicked off with its 3-month-long ad campaign until the day it unveiled the new Dodge Challenger SRT Demon, folks have been guessing what the exact figures...
by - April 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