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.