Ford CEO Mark Fields earned $18.6 million in 2014
Ford Motor Co. President and CEO Mark Fields earned $18,596,497 in 2014, an increase from his total compensation of $10,170,578 in 2013 as Ford's chief operating officer.
Fields, who took over as CEO on July 1, earned a base salary of $1,662,500 last year. His total compensation includes a $3,185,000 bonus, long-term stock options and other performance-based equity awards.
"We remain absolutely committed to aligning executive compensation with the company's business performance and to tying a significant portion of executive compensation to long-term shareholder value," Ford said in a statement.
The Dearborn automaker last year earned a pre-tax profit of $6.3 billion. It's 2015 outlook is for a pre-tax profit ranging between $8.5-$9.5 billion.
Ford achieved 91 percent of its total 2014 targets, which include automotive revenue, automotive operating margin, operating-related cash flow, profit before tax and quality. It exceeded its targets in the areas of operating-related cash flow (120 percent), profit before tax (113 percent) and quality (132 percent), but fell short of its goals in the areas of automotive revenue (44 percent) and automotive operating margin (68 percent).
Last year, Ford spent $260,156 for Fields to have personal use of an aircraft. It spent $297,801 for executive chairman Bill Ford to have use of an aircraft, along with $766,445 for security for Ford.
Executive compensation includes:
■Bill Ford made $15,110,695 in 2014, an increase from the $11,955,829 he earned in 2013. That includes a base salary of $2 million, a bonus of $910,000 and various stock options.
■Bob Shanks, Ford's executive vice president and chief financial officer, made $6,320,646 last year, up from $4,089,621.
■Joe Hinrichs, Ford's president of the Americas, made $6,092,630, up from $4,409,949 the year before.
■Jim Farley, Ford's president of Europe, Middle East & Africa, earned $4,494,764, up from $4,261,225.
■ Former CEO Alan Mulally earned $22,042,128 last year, down from $23,204,534 he earned in 2013 as his last full year as CEO. In 2014, Mulally's compensation included a $1,000,000 base salary, a $3,185,000 bonus and various stock awards. Mulally also received a Taurus as part of his retirement package. Mulally lived in a company-owned house while serving as president and CEO.
Fiat Chrysler Automobiles NV CEO Sergio Marchionne earned 31.3 million euros ($38 million based on Dec. 31 exchange rate) in 2014, according to the company's annual filing with the U.S. Securities and Exchange Commission. The majority of Marchionne's compensation last year came from a 24.7 million euro ($30 million) cash reward from non-executive directors as recognition for being "instrumental in major strategic and financial accomplishments for the Group," according to the Thursday filing.
General Motors Co. has not released its executive compensation yet. CEO Mary Barra could have earned as much as $14.4 million but is expected to have earned less due to the company's recall crisis impacting incentives.
Ford will hold its annual shareholders meeting on May 14 in Wilmington, Del.