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Mulally gets $28 mln amid $12 bln Ford loss
Thu Apr 5, 2007 11:15AM EDT
By Poornima Gupta
Reuters
DETROIT (Reuters) - Ford Motor Co., which posted a loss of $12.7 billion last year, said on Thursday Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.
Mulally, a former Boeing Co. executive, replaced Ford family scion Bill Ford Jr. as chief executive last September.
Chairman Bill Ford, who was CEO for the first eight months of 2006, did not receive any cash salary, bonus, or stock awards for 2006 as he had made a commitment in 2005 to forgo any new remuneration until the company's auto unit made sustained profits.
1 comment:
I'd say he deserves every penny he was able to squeeze out of Ford. Let's see if Ford's customers and shareholders agree.
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