DETROIT – General Motors CEO Mary Barra will receive $1.6 million in salary and $2.8 million under the company’s short-term incentive plan, which totals $4.4 million. This represents two of her three compensation components. Specific long-term incentive compensation numbers will be included in the company’s April 2014 proxy filing, which likely will dispel any notion of pay inequity. Stockholders at GM’s Annual Meeting must approve the long-term portion of her pay.
Dan Akerson, who had prior CEO experience and was chairman of the board of directors, was paid $1.7 million in salary and $7.3 million in Salary Stock awards for a total of about $9 million in 2012, the last publicly available record of his compensation. Akerson’s compensation did not include a long-term incentive because, as is now clear, he was not going to be at GM for the long term.
The discussion of pay inequality between Barra and her predecessor is premature and flawed.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com
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