April 11, 2007
Ford president earns US$28 million in 2006
Dearborn, Michigan – Ford Motor Company filed its 2007 proxy statement with the Securities and Exchange Commission yesterday, outlining compensation for select executives. The proxy shows that President and CEO Alan Mulally earned a total compensation of $28,183,476 (all figures U.S.) in 2006.
Mulally served in his role from September 1, 2006 to the remainder of the year, earning $666,667 in salary; his total compensation included a $7.5 million signing bonus, $172,974 for required use of the corporate aircraft, and $55,469 for relocation costs and temporary housing.
William Clay Ford Jr., executive chairman and former CEO, served as CEO from January 1, 2006 until September 1, 2006, and received no cash salary, bonus or other awards for 2006, pursuant to his May 2005 compensation arrangement to forego any new compensation until the company’s automotive sector achieves sustainable profitability. His 2006 compensation totaled $10,497,292, including previous options and other stock-based awards, $185,232 in value for required use of the corporate aircraft, and $85,708 for security.
Other select compensations included total 2006 compensations of $4,401,100 for Don Leclair, executive vice president and chief financial officer; $5,574,850 for Mark Fields, executive vice president and president, The Americas; $4,274,509 for Lewis Booth, executive vice president, Ford of Europe and Premier Automotive Group; and $8,673,622 for Jim Padilla, former president and chief operating officer, who retired from the company on July 1, 2006.