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Tesla, Detroit 3 CEO pay don't compare

Eric D. Lawrence, Detroit Free Press on

Published in Automotive News

Tesla CEO Elon Musk could make billions of dollars under his new compensation plan, but how does that stack up against the heads of the Detroit Three?

Musk's plan is based solely on the company's performance, but under the rosiest scenario he could be awarded $55.8 billion worth of stock.

In contrast, the highest paid of the Detroit Three in 2016 was General Motors CEO Mary Barra with total compensation of $22.6 million. Ford CEO Jim Hackett had a compensation package valued at $13.4 million when he was elevated to the post last year, and Fiat Chrysler Automobiles CEO Sergio Marchionne made $11.99 million in total compensation in 2016.

The 2017 figures for the Detroit Three chief executives will become clearer in coming weeks as the companies release their earnings numbers. That compensation, which typically includes salary, bonuses and other awards, has varied significantly year to year and by personnel.

For example, Hackett's predecessor at Ford, Mark Fields, was paid $22.1 million in 2016.

 

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