Ford Executive Compensation Released
Ford Motor Company reiterated the significant progress it is making on its plan to transform and position the company to grow profitably around the world with the release of its 2007 Annual Report and other documents.
The Annual Report and Proxy Statement were mailed today to shareholders and the Proxy Statement was filed with the U.S. Securities and Exchange Commission. The documents outline the company’s performance in 2007, announce information about the company’s Annual Meeting to be held on May 8, 2008, and proposals to be presented there, as well as provide details of compensation for select corporate officers.
In addition to other information, the 2008 proxy provides a detailed review of total 2007 compensation provided, granted to or received by five named executive officers during the year – based on the company’s 2007 performance.
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Alan Mulally, Ford president and chief executive officer, earned $2,000,000 in salary and received incentive bonus awards of $7 million. Total 2007 compensation was $21,670,674, which includes salary, bonuses, the Company-recognized expense for stock options and other stock-based awards, as well as all other compensation.
Don Leclair, Ford executive vice president and chief financial officer, earned $1,005,633 in salary and received incentive bonus awards of $3 million. His 2007 compensation totaled $11,703,127.
Mark Fields, Ford executive vice president and president, The Americas, earned $1,255,634 in salary and received incentive bonus awards of $2,850,000. His 2007 compensation totaled $8,389,898.
Lewis Booth, Ford executive vice president, Ford of Europe and Premier Automotive Group, earned $868,133 in salary and received incentive bonus awards of $2,250,000. His 2007 compensation totaled $10,264,463.
Mike Bannister, Ford executive vice president and CEO, Ford Motor Credit Company earned $708,700 in salary and received incentive bonus awards of $2,150,000. His 2007 compensation totaled $8,677,747.
UAW President Ron Gettelfinger called the pay awarded to the Ford executives in 2007 'excessive and unjustified.'
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