As the first woman to lead a major U.S. automaker, General Motors CEO Mary Barra received $16.2 million in compensation for the 2014 year. She surpassed former CEO Dan Akerson’s total compensation for 2013 by 78 percent.
Though most of her compensation is in the form of stock awards that she cannot cash yet, Barra was paid $4.55 million in salary and other liquid compensation. As a point of reference, Ford CEO Mark Fields received $18.6 million after becoming leader in July. Previous CEO Alan Mulally received compensation for the whole year as well, in the amount of $22 million.
GM is moving away from the restrictive guidelines it followed after the government influenced its restructuring back in 2009, and is now linking executive compensation more closely to performance, similar to other big companies.
For 2014, Barra and other GM executives managed to earn 74 percent of the company’s targets for profit, automotive cash flow, and global market share and quality. Though at the same time, had to deal with a record number of recalls, stemming from the faulty ignition switch scandal.