Ford’s Jim Hackett bought a nice bump in pay to move with his new CEO title.
His annual base cash will now be $ 1.eight million, up from the $ 716,000 he used to be incomes as the pinnacle of the Ford unit developing self-driving vehicles. due to the fact that he is assuming the brand new job roughly 5 months into the year, the raise will take his base pay for the yr to simply over $ 1 million.
He’ll additionally get a $ 1 million signing bonus, in addition to a performance-primarily based bonus value as much as $ three.6 million.
related: Ford’s new CEO’s resume comprises furnishings and soccer
in addition, he’ll get stock delivers that may be price as a lot as $ 6 million that are additionally tied to job efficiency.
Hackett’s new annual base earnings is roughly on par with what his predecessor Mark Fields got in 2016, although Hackett is getting $ 12,500 extra.
Fields’ 2017 salary?? has yet to be suggested. however his whole compensation ultimate yr came to $ 22.1 million together with inventory and bonuses. Hackett complete package might end up being of comparable price when the shorter time in the top job this 12 months is taken under consideration.
associated: Why Ford fired its CEO
Ford’s shares plummeted virtually 40% during Fields’ tenure, and he used to be changed by Hackett on Monday. Ford govt Chairman invoice Ford, the great-grandson of the corporate founder, said the corporate wanted to move quicker to enhance a brand new technology of electrical and self-driving cars.
CNNMoney (the big apple) First printed could 25, 2017: 12:59 PM ET
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newest monetary information – CNNMoney.com
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