GM CEO Barra's pay package worth $14.4M this year
General Motors says new CEO Mary Barra will get a pay package worth $14.4 million this year. The company says she'll make more than Dan Akerson, who she replaced last month.
Barra is the first woman CEO of a major global automaker. She'll get $1.6 million in salary, $2.8 million in short-term incentives and long-term stock compensation worth $10 million. The long-term amount is part of a new incentive plan that has to be voted on by shareholders in June.
Chairman Tim Solso says in a statement Monday that Barra's package is line with her peer group and weighted so that most of it is based on company performance.
From 2011: Barra Is First Woman To Head GM Products
GM says it released the amounts to counter stories that said Barra would be paid less than Akerson.
Barra is a 33-year veteran of GM, but she has never served as the CEO or president of any unit there. She most recently was head of product development at the company.