GM releases CEO total pay amid controversy
02/11/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Tennessee – Automaker GM has released information about the compensation to be given to its new CEO Mary Barra this year, following controversy over speculation about whether she would receive less than her male predecessor. As reported by USA Today, Barra, who is the first woman to become CEO of a major global automaker, will be compensated $14.4 million, $1.6 million of which will be a direct salary.
GM has stated that the amount is nearly 60 percent more than what former CEO Dan Akerson received in total compensation for 2012. Akerson retired last month.
GM reportedly disclosed the information to “correct misperceptions created by comparisons that used only a portion of Barra’s overall compensation.”
Tim Solso, Chairman of GM is quoted as saying of Barra’s compensation in a statement, “As a new CEO, Mary’s total compensation is in line with her peer group and properly weighted so that most is at-risk… The company’s performance will ultimately determine how much she is paid.”
This report is provided by Justice News Flash – Tennessee Legal News
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