Ford CEO's compensation jumped 17 percent to $17.4 million in 2015
By Bernie Woodall
DETROIT (Reuters) - Ford Motor Co (F.N: Quote) Chief Executive Officer Mark Fields' salary, bonus and stock awards jumped 17 percent to $17.4 million in 2015, a year in which the auto maker earned a record pretax profit, the company said on Friday.
Including pension and perks, Fields made $18.6 million, down from $18.9 million in 2014. His pension award was $2.8 million lower in 2015 than in the previous year.
Last year was the first full one for Ford under the guidance of the 55-year-old Fields, and the company earned a record pretax profit of $10.8 billion.
Ford Executive Chairman Bill Ford, 58, got a salary, bonus and stock awards totaling $10.07 million, up 1.6 percent from 2014. Ford's pension award was $3 million lower in 2015 from the previous year, the company said in a filing with U.S. securities regulators.
The pension changes in 2015 for Ford were caused by the fluctuating discount rate and changes to the government-issued mortality tables, which were outside the company's control, the auto maker said.
Last month, Fiat Chrysler Automobiles (FCHA.MI: Quote) FCAU.N told the SEC that Chief Executive Sergio Marchionne's total compensation of $73.6 million, which includes the value of the stock awards when they vested. Marchionne has not yet cashed them out and their value fluctuates over time.
Fiat Chrysler shares, adjusted for the spin-off of Ferrari at the start of this year, are down about 25 percent since last April when those shares vested.
Marchionne received a salary of $4 million and a bonus of $6.85 million in 2015. Continued...