New GM chief executive could receive more than $4.4M in compensation in her first year
by Bloomberg News
Mary Barra, who became the first female chief executive officer of General Motors Co. this week, may receive compensation in 2014 worth more than $4.4 million.
Barra, 52, will earn $1.6 million in salary and is eligible to receive an additional $2.8 million as part of the company’s short-term incentive plan, Detroit-based GM said today in a filing with U.S. Securities and Exchange Commission.
Barra also is likely to receive additional compensation as part of a new long-term incentive plan that will be up for approval at the company’s annual meeting this year, GM said. She was previously chief product officer.
President Dan Ammann, who was promoted to the role from his position as chief financial officer, may receive a package worth about $2 million, including $900,000 in salary. He, too, may receive more compensation as part of the new long-term incentive package.
Dan Akerson, who retired as CEO, will remain at GM as a senior adviser on an interim basis with a cash salary of $1.7 million and will be eligible to receive $2.98 million under the short-term plan, GM said. He’s expected to stay less than a year and his compensation will be prorated, the automaker said.
Akerson in 2012 received compensation worth $11.1 million, including $1.7 million in salary and $9.4 million in stock awards and other compensation, the company said in April.