Alan Mulally, who succeeded Bill Ford last year as chief executive of Ford Motor Co., received compensation valued at $39.1 million in his four months on the job in 2006, including an $18.5 million bonus related to his signing and awards he gave up when he left his previous employer Boeing Co., according to a regulatory filing Thursday.
Mulally took over as CEO in September and also is the Dearborn, Mich.-based company's president.
The nation's second biggest automaker lost $12.7 billion in 2006, the largest in its 103-year history, largely due to a massive restructuring plan undertaken amid a withering assault from Asian automakers who have taken an increasing share of the U.S. auto market. Ford expects more losses for this year and in 2008, but expects to return to profitability in 2009.
Read Article