DEARBORN, Mich. (AP) - Former Ford CEO Alan Mulally's compensation fell 5 percent to $22 million in his final year at the company.
DEARBORN, Mich. (AP) — Former Ford CEO Alan Mulally's compensation fell 5 percent to $22 million in his final year at the company.
Mulally retired July 1. As a result, he earned $1 million in salary compared with $2 million in 2013. He received $13.9 million in stock and option awards, down 5 percent from a year ago.
Mulally's successor, Mark Fields, saw his total compensation jump 47 percent to $14.9 million. Fields became Ford's president and CEO on July 1. Before that he was the company's chief operating officer.
Fields' salary rose 8 percent to $1.7 million. His stock and option awards nearly doubled to $9.7 million.
The Dearborn-based automaker's net income fell 56 percent to $3.2 billion in 2014 as it introduced a record 23 new vehicles.