Executive pay has been a hot topic lately, particularly as contracts between the Detroit Three automakers and the United Auto Workers union are nearing an end, but General Motors must still move forward with compensating its executives.
We have now learned that Dan Ammann, set to fill the role left by GM’s soon to be retired chief financial officer, Chris Liddell, will bring home an annual compensation package totaling a cool $4.2 million, according to The Detroit News.
The package is broken down to include a $3.45 million restricted stock compensation, which is intended to tie Ammann’s compensation directly to the company’s performance. The second aspect of the new CFO’s compensation comes in the form of a $750,000 annual cash salary.
Ammann will be relieving Liddell of his role as CFO after the close of this month, but until then will continue serving at GM’s Treasurer.
References
1.’Incoming GM CFO…’ view
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