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Ford chief's pay jumps 11% to $30M

Tags: Autos, Ford

Ford Motor Co. (F-N) said Friday that Chief Executive Officer Alan Mulally's total compensation rose 11 percent to nearly $30 million US last year, when the automaker reported its best net profit in more than a decade.

Since Mulally became head of the company in 2006, he has led the automaker's turnaround, including steering it through the U.S. economic crisis without resorting to a federal bailout like its Detroit rivals General Motors Co. and Chrysler Group LLC.

Mulally got $2 million in salary and $5.5 million in cash bonuses. Including stock options and equity awards, his total compensation was $29.5 million, up from $26.5 million in 2010.

Executive Chairman Bill Ford's total compensation last year, including stock options and equity awards, was $14.5 million, down from $26.4 million in 2010.

Ford America's President Mark Fields received total compensation in 2011 of $8.8 million, unchanged from the previous year.

After last year's Ford compensation figures were issued, United Auto Workers President Bob King called Mulally's compensation "outrageous" and "morally wrong" at a time when some workers making Ford vehicles made about $15 per hour. CTV Two CTV News CTV News Channel BNN - Business News Network CP24