General Motors might be revising some of its plans right now, what with firing Cadillac’s CEO for failing to achieve the desired results, yet its chief executive earned no less than $22 million in 2017.
According to Automotive News, that’s actually less than Mary Barra made the year before. Specifically, $624,011 less – or about enough to buy five Corvette ZR1s. But her take-home was still over $5 million more than what Ford CEO Jim Hacket made last year.
Barra’s compensation, according to regulatory filings cited by AN, starts with a $2.1-million base salary. That was up $100k from the previous year. She also got $5 million in short-term incentives (down from $6.8 million in 2016) and $10.7 million in performance-based stock grands (down by $2.3 million).
Mary Barra took over as CEO at General Motors in 2014, when she was promoted from executive vice president of product development, purchasing, and supply chain. She added the role of chairman, or chairperson more accurately in 2016.
The head honcho wasn’t the only GM executive to bring home (relatively) less bacon last year than the year before. Her top lieutenant, president Dan Ammann, was paid $9.3 million (down by $965,666). Vice president Mark Reuss got $7.7 million (down $686,153). CFO Chuck Stevens was paid $7.1 million (down $502,046) and North American regional president Alan Batey earned $6 million (down $440,036).
Those are some pretty high salaries, and speak to the continued success of one of America’s largest automakers. Nice work if you can get it, we say. But getting it is anything but straightforward – and, as many have found out in the past, extremely susceptible to sudden changes.