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

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 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