Ford pays top executives top dollar

April 4, 2008 at 5:43 PM
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DEARBORN, Mich., April 4 (UPI) -- Ford Motor Co. paid Chief Executive Alan Mulally $21.7 million in 2007, a filing with the Securities and Exchange Commission revealed Friday.

Mulally's total package included a $2 million salary, $7 million in bonuses and various stock awards, The Detroit News reported.

On the year, he took a cut in compensations, having grossed $28.2 million in 2006.

In 2007, the company reduced its losses from $12.6 billion in 2006 to $2.7 billion last year.

Other top executives also received multimillion-dollar deals, the Detroit Free Press reported Friday.

Chief Financial Officer Don Leclair earned a $1 million salary, a bonus of $3 million and awards for a total package worth $8.4 million.

Ford's President of the Americas Mark Fields grossed $8.4 million, while head of Ford of Europe Lewis Booth grossed $10.3 million, the report said.

Chief Executive Officer for Ford Credit Mike Bannister grossed $8.7 million.

The executive chairman didn't earn a dime, the report said, sticking to his pledge in 2005 not to take any pay until the company digs itself out of the red.

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