Mary Barra’s 2017 Compensation Nearly Doubled Year-Over-Year
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General Motors CEO Mary Barra saw her compensation rise from $11.9 million in 2016 to a whopping $25.9 million in 2017, a new study from Automotive News (subscription required) revealed on Saturday.
Barra climbed to second place of any publicly traded U.S. automotive company with her latest round of earnings. The jump in income came primarily from stock options and incentive plans. GM’s regulatory filings said Barra’s increase in compensation came from meeting targets to deploy self-driving cars and plans to introduce 20 new electric cars by 2023. Margins also increased to 10 percent in North America.
Barra’s base salary of $2.1 million was unchanged for 2016 to 2017. Her earnings also handily outdo newly appointed Ford CEO Jim Hackett’s earnings of $7.3 million.
As for other GM executives, they too saw major increases in earnings. GM product chief Mark Reuss’ income climbed 132 percent to $13.6 million; GM President Dan Ammann saw his earnings rise 68 percent to $12.2 million; and Alan Batey, GM North America President, jumped 107 percent to make $9.2 million.
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FWIW
Barra’s compensation slid 2.8% to $22 million in 2017
http://www.autonews.com/article/20180427/OEM02/180429781/gm-barra-compensation-2017-proxy
Bottom of article “last year was about $5.2 million more than”
Barra’s total compensation last year was about $5.2 million more than Ford Motor Co. CEO Jim Hackett, who became CEO in May.
Ford awards CEO Hackett $16.7 million as he tries tricky turnaround.
Not bad for someone who hadn’t done anything yet, I know Jim Hackett, he sent my job to Mexico when at Steelcase.
Tesla CEO Elon Musk has a corporate pay deal that could net him $55.8 billion over a decade.
2017 Total compensation: $99,744,920
Salary: $45,936
Option awards: $99,698,984
The tricky part is the one we’re not only does Tesla have to make a profit but survive.
Right now things are pretty rough there.
They could go down a number of different roads and not all are good.
We get it, you must hate Tesla. They’re the only ones doing anything right, when paying their CEO. You either live up to performance expectations, or you don’t get paid. Simple as that. I’d like to see Barra do as much as Elon does, personally on the floor along with other employees building these vehicles.
No hate for the idea of Tesla with me, but they aren’t doing things right. The company has heavily relied on government subsidies for most of its existence, has never hit a deadline, employees hate their jobs, the overall quality of the vehicles is not good, and Tesla stock is predicted to drop 30% or more in the near future. All that for a high high price and a long wait. As of late, Elon has done more damage to Tesla than anything positive by being “on the floor” and out in front. If there is any true success on the horizon, then he needs to step away rather than be the main voice. Competition is catching up and will soon be able to deliver what Elon can only dream to under deliver on. More than likely at a cheaper price.
My major issue with Barra’s leadership and compensation is not so much that she’s taking what people are willing to pay her, it’s that the she and the executives below her don’t seem to care about GM vehicles being every bit as, if not more expensive as their direct competitors. All the meanwhile offering less content, options, and interiors that are a decade behind. It’s like old GM all over again.
My big worry is that GM is heading back to the bad Old GM brand re-badging. Every brand seems to need the same CUV just designed slightly different.
Be better if one of her compensation metrics was ‘enhancing shareholder value’.
5 yrs ago, GM was $36. Today, $36.
Options are good for mgt, buying @ artificially depressed, non-retail prices.
Margins are good. Self-driving and 20 ev’s, ok, But return on investment for index funds/average investor, GM is lacking there.
Maybe Ms. Barra might want to consider spending more time listening to GM customers and market trends, rather then spending her time redefining GM’s dress code and promoting Toxic Feminism in “Star Wars” as a Disney Board Member. There’s no doubt that Ms. Barra takes time away from running GM to indulge in her extra-curricular interests!
Maybe that should change too?
This is Earth. The planet. Feel free to visit some time.
I have sent 2 emails to GM investor relations they answered neither. Complained about GM lack of P/R. Second Management needs to defend the stock and show up more in our business news Network. Some of GM vehicles that have gotten awards and GM has them hidden in a closet. GM board isn’t doing their job. I think dividend paying companies should make the Dividend only paid 100% on a 90 day hold. Day traders are killing GM on light volume. The same shares get traded many times all day. Todays average trade is only 152 shares.
One would think with all of the compensation at the top, some one could build a vehicle that would not require so many trips to the service department. Over fifty thousand dollars for a GMC Acadia Denali and I am on first name basis with the service department; go figure that. The best GM products I have owned/leased were the Oldsmobile and Pontiac. Also, when are you going to build a vehicle for the average sized American driver?
Instead of (over) paying these people instead put it into better interior for the 2019 Silverado and Sierra. Or building more vehicles here in the US. Same “old” GM. Nothing ever changes
Yep, GM can’t get market share with the Camaro over Ford Mustang GT and FCA Challenger yet can afford to double Barra’s salary. WTF????? Typical GM BS until they need another bailout…..
yes, I thought they had learned something, but no still the same greedy bastards they have always been. I will never ever buy a brand new GM product.
the CEO’s pay and exes is equal to about 5000 workers pay…I say lay off the CEO and the exes and hire some Chinese or Koreans