Ford's new CEO gets $18.5 million to take job
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From: Along Lake Erie
Originally Posted by LeanNCut
LMAO. Mulally's strength is manufacturing and product strategy, not car repair. He should get used to the door cracks and blown plugs after he gives up his Lexus GS430 for an F-150 though. 
-Joe
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From: Along Lake Erie
Originally Posted by MGDfan
-Joe
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From: Somewhere in the EU
In case you're interested, he's making a lot more than 18.5 mil.
He gets a hiring bonus of 7.5 million plus 11 million to offset the money he gave up by leaving Boeing to go to Ford.
He will be paid a BASE salary of 2 million per year.
He also got 600,000 restricted stock shares that will vest in equal installments over three years.
In addition he gets options on 3 million Ford shares that also vest over three years that have an option price of $8.28 a share.
He also will get an option on an additional 1 million shares (but this is performance based on the price of Ford's common stock).
He is entitled to the full option grant if Ford stock recovers to at least $30 a share and stays there for at least 30 days.
Plus a house, unlimited use of corporate jet for him, family and friends, expenses, etc.
Then of course, there's all the stuff that isn't reported.
He gets a hiring bonus of 7.5 million plus 11 million to offset the money he gave up by leaving Boeing to go to Ford.
He will be paid a BASE salary of 2 million per year.
He also got 600,000 restricted stock shares that will vest in equal installments over three years.
In addition he gets options on 3 million Ford shares that also vest over three years that have an option price of $8.28 a share.
He also will get an option on an additional 1 million shares (but this is performance based on the price of Ford's common stock).
He is entitled to the full option grant if Ford stock recovers to at least $30 a share and stays there for at least 30 days.
Plus a house, unlimited use of corporate jet for him, family and friends, expenses, etc.
Then of course, there's all the stuff that isn't reported.
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Mulally get's crap for inheriting Ford's problems? Give the guy a chance to screw up at least. His pay package isn't at all out of line for an executive of his level, not even in the top 50 if I'm correct.
As for the UAW, if you look at Toyota, their pay scale is on par with union wages. It's the benefits unions have negotiated that are killing the big three. And since Ford agreed to the contracts, who do you need to blame, some guy on the line doing what everyone above him is doing, as in getting everything they can?
I'm no fan of unions for certain reasons, but they're made a scapegoat way too often, especially considering the truly obscene compensation packages are at the executive level.
As for the UAW, if you look at Toyota, their pay scale is on par with union wages. It's the benefits unions have negotiated that are killing the big three. And since Ford agreed to the contracts, who do you need to blame, some guy on the line doing what everyone above him is doing, as in getting everything they can?
I'm no fan of unions for certain reasons, but they're made a scapegoat way too often, especially considering the truly obscene compensation packages are at the executive level.