General Motors newest CEO Dan Akerson will receive a $9 million compensation package that includes an annual $1.7 million in cash, $5.3 million in salary stock delivered over three years starting on September 30, 2011, as well as $2 million in restricted stock.
The plan matches that paid of former CEO Ed Whitacre. However, Big Ed won’t receive his full compensation due to his upcoming retirement at the end of September, according to GM spokeswoman Renee Rashid-Merem.
For the sake of comparison, cross-town rival Ford paid its chief executive Alan Mulally $1.4 million in cash and $16.5 million in other compensation in 2009.
Source: Detroit Free Press