Ford (F 0.17%) CEO Alan Mulally took a 29% pay cut for 2012, according to a SEC proxy statement filed today. The executive pulled in $21 million in overall compensation, but felt the squeeze due to Ford's failure to achieve three-quarters of its performance targets.
Source: SEC PRE 14A
|
2011 ($) |
2012 ($M) | |
|---|---|---|
|
Salary |
$2 |
$2 |
|
Bonus |
$5.5 |
$4 |
|
Stock Options and Addtl. Compensation |
$22 |
$15 |
|
Total: |
$29.5 |
$21 |
Source: Bloomberg
Although market approval for 2012 is evident from the corporations' 16.4% stock price increase (the S&P 500 bumped up 11.7%), the blue oval missed on goals for profit, cash flow, and market share.
Previously CEO of Boeing Commercial, Mulally joined Ford in 2006 to pull the automaker through the Great Recession and beyond. According to CNNMoney, Mulally has accumulated more than $300 million of Ford shares over his career.
