New Ford CEO Makes $11.8 Million as He Plots High-Tech Makeover

Ford Motor Co. Chief Executive Officer Jim Farley’s compensation rose about 41% in 2020, following his promotion and mandate to reshape the 117-year-old automaker into a leader in next-generation vehicle technology.

Farley, 58, who took over on Oct. 1, received $11.8 million in total compensation, according to a securities filing Thursday. That’s up from the $8.36 million Farley made in 2019, when he was the company’s president of new business, technology and strategy. He rose to chief operating officer in a management shakeup early in 2020, before replacing Jim Hackett as CEO last fall.

Hackett, 65, who struggled to win over Wall Street with his turnaround plan, received $16.7 million in total compensation last year, down from $17.4 million in 2019.

Ford’s fourth CEO in six years, Farley managed to reverse a long-running rout in the stock, which is up about 38% this year.