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New Ford CEO Mark Fields to receive a $1.75M base salary

 New Ford CEO Mark Fields to receive a $1.75M base salary
Mark Fields stepping as a Ford CEO

$3.5M waiting as a bonus package

Ford’s new chief executive, Mark Fields, will be paid no less than $1.75 million (1.28M EUR) per year. The recently promoted CEO will see his salary grow 13% from $1.58 million (1.16M EUR) from the time he was a chief operating officer. He will also use a private jet for his travels.

Alan Mulally’s successor pay package also includes performance-based incentives of up to 200% of his base salary, or $3.5 million (2.56M EUR). Fields was also granted an additional 710,227 shares in the company that cannot be cashed in yet. Currently rated at $17.21 (12.6 EUR) each, this translates into a $12.2 million (8.93M EUR) bonus.

Mark Fields steps into Ford’s top spot at a slightly lower pay rate than his predecessor. Mulally was paid over $23 million (16.84M EUR) in 2013 with a base salary of $2 million (1.46M EUR) and a performance bonus of 175%.

"We continue to believe in aligning executive compensation with the company's business performance and long-term shareholder value," comments Susan Krusel, a spokesperson from the Blue Oval. "That's why more than 70% of our senior executive compensation is performance-based-tied to Ford's business performance and stock performance."

Source: Nasdaq

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Comments (6)

MichaelSayward
I'd have done it for $1.4 million. ??
Jul 3, 2014 10:47 am
1 0
HermanCampbell
He's got some big shoes to fill. Hopefully he can keep the company on it's current pace and continue the rejuvenation of Lincoln.
Jul 3, 2014 10:30 am
3 0
Dude von Dudenstein
Indeed. I wonder how it's possible that one of the largest car manufacturers in the world could possibly neglect Lincoln so much. It's seems like they do it on purpose sometimes.
Jul 3, 2014 10:46 am
4 0
HermanCampbell
It's an absolute shame what they've done to Lincoln. What was once a storied brand turned into a fancy Ford. They are on the right track with the MKZ and MKC, but still more to be done. I think Mark Fields gives Lincoln their best chnace as Mullaly had wanted to kill Lincoln off since he took over.
Jul 3, 2014 11:38 am
3 0
taliz
They neglected Volvo too.
Jul 3, 2014 3:48 pm
3 0
sensei
Ford has the new Mustang platform and Ford Australia doing.....nothing for Lincoln.
Jul 3, 2014 8:32 pm
1 1
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