Ford Cuts Pay for CEO Mulally 29% After Falling Short of Targets
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Ford Motor Co. cut Chief Executive Officer Alan Mulally’s compensation by 29 percent last year after the second-largest U.S. automaker fell short of its targets for profit, cash flow and market share.
Mulally received $2 million in salary, $3.95 million in bonus and $15 million in stock, options and other compensation, Dearborn, Michigan-based Ford said yesterday in a regulatory filing. That compares with $2 million in salary, $5.46 million in bonus and $22 million in other compensation for 2011.