According to a report out of the United States, new Ford Motor Company CEO Jim Hackett is set to earn up to $13,4-million (about R172,7-million) this year.
Citing a filing with the Securities and Exchange Commission, Automotive News reports that Hackett – who moved from the position of executive chairman of Ford Smart Mobility – will receive a basic salary of $1,8-million, which represents a 151 percent increase over his pre-promotion pay.
In addition, Hackett will reportedly receive a $1-million bonus as well as stock awards “of about $7-million”. Should Ford meet certain targets, the report suggests the 62-year-old will furthermore be awarded a “performance-based bonus” of around $3,6-million.
Earlier this week, Ford named Hackett as its new president and CEO, relieving Mark Fields of his duties, with the official statement saying the latter had “elected to retire from Ford after a successful 28-year career with the company”.
