三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

US EUROPE AFRICA ASIA 中文
Business / Auto Global

Ford cuts CEO's pay as company misses targets

(Agencies) Updated: 2013-03-18 14:10

Ford cuts CEO's pay as company misses targets

The new Ford Tourneo Courier car is seen during the presentation at the Ford stand at the 83rd Geneva Auto Show, March 5, 2013. The US automaker slashed the 2012 compensation of its chief executive officer Alan Mulally by 29 percent. [Photo / Agencies] 

Ford Motor Co slashed the 2012 compensation of its chief executive officer by 29 percent, in part because the No 2 US automaker missed some key goals for market share, profit and cash flow, the company said on Friday.

Alan Mulally, who has led Ford since 2006, received $2 million in salary and nearly $4 million in cash bonuses, Ford said in its preliminary proxy filing. His overall pay was $21 million, including stock awards, options and other perks.

That compares with an overall package of $29.5 million in 2011. This included a one-time restricted stock grant, worth $8 million at the time, for the CEO's role in reducing the number of Ford's vehicle platforms, a move that could cut costs and complexity.

"We believe our 2012 performance clearly shows our management team performed exceedingly well in a difficult

Mulally, 67, is credited with spearheading Ford's turnaround by mortgaging the automaker's assets, including the Blue Oval logo, and executing his "One Ford" strategy to cut costs.

Ford beat its goals for cost controls and quality last year, but fell short of its benchmarks for profit and cash flow, two areas of heavy focus. In 2012, Ford met about 75 percent of its performance targets, Ford said in its proxy.

Ford's pretax profit was $8 billion, lower than the $8.7 billion aim. Its global automotive operating-related cash flow was $3.4 billion, less than the desired $4.6 billion. Ford said it met only 3 percent of its market-share target.

Europe was a key challenge last year. In 2012, Ford lost $1.8 billion in the region, where a punishing downturn has hurt industry sales. The company predicts it will lose another $2 billion in Europe in 2013.

Ford shares were off 0.2 percent at $13.40 on Friday afternoon on the New York Stock Exchange. The shares have gained about 3.5 percent so far this year.

Mulally payout beats rivals

Between 2006 and 2008, Ford lost $30 billion. But the company made a profit of $5.7 billion in 2012, its fourth straight year in the black.

The automaker also achieved an investment-grade credit rating from two agencies, allowing the company to reclaim assets that it mortgaged to pay for its turnaround.

Mulally's efforts helped Ford avert a federal bailout in 2009, when a global recession pushed General Motors Co and Chrysler Group LLC go through government-financed bankruptcy restructurings.

Mulally is paid far more than his counterparts at GM and Chrysler. GM CEO Dan Akerson was given $11.1 million in compensation for his 2012 performance, a person familiar with the matter said last month.

Chrysler CEO Sergio Marchionne received $1.2 million in stock awards and other compensation, according to the company's annual regulatory filing.

Over the last year, investors and analysts have raised several questions about the timing of Mulally's eventual retirement. Last year, Ford announced that Mulally agreed to stay on as CEO at least through 2014.

Ford also promoted Mark Fields to chief operating officer, one of several other management changes made last year. Fields, who was paid $8.9 million in compensation in 2012, is considered a frontrunner to be Ford's next CEO.

Executive Chairman Bill Ford's compensation came to $14.8 million last year. Chief Financial Officer Bob Shanks earned slightly more than $5 million, while Jim Farley, head of global marketing, earned $4.6 million.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久草在线看 | 亚洲精品一区二区三区四区手机版 | 国产精品video | 日韩亚洲国产综合久久久 | 免费黄色片视频 | 亚洲欧美综合色区小说 | 日本高清中文字幕视频在线 | 在线不卡一区二区 | 国产成人精品免费视频动漫 | 欧美特级毛片a够爽 | 欧美一二三区在线 | 国产一在线精品一区在线观看 | 国产伦精品一区二区三区视频小说 | 亚洲欧美国产视频 | 日本黄色免费在线观看 | 免费人成观看在线网 | 亚洲欧美小说色综合小 | 国产一二在线观看视频网站 | 丁香婷婷六月 | 特级xxxxx欧美孕妇孕交 | 国产a级三级三级三级 | 国产福利区一区二在线观看 | 免费欧美在线 | 2022麻豆剧果冻传媒 | 特色一级片| 色综合综合色 | 国产婷婷 | 欧美在线观看视频一区 | 亚洲国产精品嫩草影院久久 | 久久国产精品岛国搬运工 | 国内精品久久久久激情影院 | 国产欧美综合精品一区二区 | 国产亚洲精品久久久999小说 | 韩国女主播精品一区二区 | 男人都懂www深夜免费网站 | 伊人黄网 | 91精品福利手机国产在线 | 国产黄色毛片 | 91亚洲在线 | 国产高清晰在线播放 | 国产精品无码永久免费888 |