General Motors Co. CEO Fritz Henderson was singled out to be the top earner at General Motors Co. and as such will face pay reductions, along with 174 other executives at 7 companies that received federal bailouts. The US Treasury report did not release the identities of the top earners at each company and only the highest salaries were listed.

However, Henderson was identified by an unnamed source familiar with the matter. Reportedly, the Obama administration sought to get Henderson’s annual salary cut by 25% from $1.3 million to $950,000. The overall compensation of GM’s top executive will more than triple to $5.4 million, according to the Treasury report. Henderson, who was chief operating officer last year, will get $4.2 million in stock salary and long-term restricted stock.

[via autonews]

Tags: car news, fritz henderson salary cut, general motors salary cut, GM, gm henderson salary cut, gm news, gm salary cut

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