Sergio Marchionne, chief executive of Fiat Chrysler Automobiles, received salary and stock awards valued at $307,989 in 2013 for leading Chrysler Group, according to a filing with the United States Securities and Exchange Commission. Marchionne also received pay for his role as Fiat Group’s CEO. The Fiat side will announce its compensation to Marchionne later this month.
His 2013 compensation from Chrysler was a big drop from 2012, when he received $1.23 million. In 2011, he declined a salary from the US carmaker. The drop was because 2012 compensation levels included performance incentives accrued over three years.
Fiat S.p.A. and Chrysler Group LLC merged in January. The newly formed company will trade primarily in New York, with trading in Milan, starting later this year. Marchionne was the chief executive of both carmakers prior to the merger. In 2012, he received around EUR13.2 million in in salary and equity ($18.3 million at current exchange rates), from Fiat and its affiliates. [source: DetroitFreePress]