facebook
twitter
rss
account
search
search
 

Chrysler's Marchionne skipped pay again

March 7, 2012 at 11:45 PM   |   Comments

AUBURN HILLS, Mich., March 7 (UPI) -- Chrysler Group Chief Executive Officer Sergio Marchionne worked without compensation in 2011, the second straight year he has done so, company documents reveal.

The U.S. automaker's annual filing Tuesday didn't indicate why Marchionne chose to forgo any salary, bonuses and stock options, The Wall Street Journal reported.

Chrysler turned a profit last year and has rebuilt its workforce to 55,687 employes, the most since 2007.

Marchionne, who has been Chrysler's CEO since 2009, is compensated by Fiat SpA, where he also is chief executive. The Italian automaker paid him about $4.5 million in 2010. His 2011 Fiat earnings have not been disclosed.

Fiat owns 58.5 percent of Chrysler, which it took out of bankruptcy.

Over at Ford Motor Co., Chief Executive Officer Alan Mulally made $34.5 million after stock awards issued three years ago became fully vested this month, the newspaper said. General Motors Co. Chief Executive Office Dan Akerson received $2.5 million in total compensation for 2010.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Destroyers with ballistic missile defense capability heading to Japan Destroyers with ballistic missile defense capability heading to Japan
2
Warren Buffett loses $2 billion in 2 days on investments Warren Buffett loses $2 billion in 2 days on investments
3
Little girls drop F-bombs for feminism in new FCKH8 video Little girls drop F-bombs for feminism in new FCKH8 video
4
Texas plant converts CO2 to baking soda Texas plant converts CO2 to baking soda
5
Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal Brazil, Argentina to strenghten aerospace cooperation; talk Gripen deal
Trending News
Around the Web
x
Feedback