P&A Providers & Administrators
MenuMENU
SearchSEARCH

Ford's Mulally Paid $26.5 Million In 2010

April 1, 2011
2 min to read


DETROIT - Ford Motor Co. paid Chief Executive Alan Mulally more than $26.5 million in salary and stock compensation last year, an amount likely to become a hot-button union issue during labor negotiations later this year.


Mr. Mulally received $1.4 million in salary and $9.45 million in a cash bonus as part of his compensation package, the company said Friday. Executive Chairman William Clay Ford Jr. also received total compensation of $26.5 million, which included a salary of $1.4 million and a cash bonus of $2.7 million, reported The Wall Street Journal.

Ad Loading...


Ford also disclosed that Americas President Mark Fields received 2010 total compensation of $8.82 million, while Chief Financial Officer Lewis Booth was paid $8.20 million and manufacturing executive vice president John Fleming received $5.92 million.


Ford executives are profiting from the company's turnaround while compensation for executives at General Motors Co. and Chrysler Group LLC is still limited under the terms of the bailouts they received from the U.S. government. GM Chief Executive Dan Akerson has a compensation package worth $9 million.


Last year was one of Ford's most profitable years ever. Income for the year totaled $6.6 billion, up from $2.7 billion in 2009. Revenue was $120.9 billion, $17 billion more than in 2009, excluding sales of its former Volvo business.


Both Messrs. Mulally and Ford continued to take a voluntary 30% pay cut in their salaries. The executives initiated the reduction in 2009 amid the recession.


The company also said it spent $167,796 on chartered air transportation for Mr. Mulally since he is barred from flying on commercial aircraft for security reasons. An additional $85,425 was spent on security and $97,271 on housing.

Ad Loading...


Although Mr. Mulally is credited with returning the auto maker to profitability and steering the company clear of bankruptcy, the payout comes as the United Auto Workers union is preparing for labor negotiations before the current contract expires in September.


Most UAW members are still living with the wage freezes and other concessions that they agreed to in 2009 to ensure Ford maintained its financial footing amid a deep recession which pushed cars sales to record lows.


The compensation figures don't include the vested stock Messrs. Mulally and Ford have collected since the options haven't yet been cashed. Last month, Ford disclosed that Mr. Mulally held stock worth $33.4 million at the end of 2010 while Mr. Ford's holding is valued at $25 million.


UAW President Bob King blasted Mr. Mulally's pay package when Ford disclosed the CEO's stock holdings. He called the payout "morally wrong." Canadian Auto Workers President Ken Lewenza called the stock options "obscene."

More Industry

Orange electric vehicle charging station.
Industry•by Lauren Lawrence•October 20, 2026

Charger Network Growth Slows

Despite a projected increase in public EV chargers in 2026, charging infrastructure remains a top concern for consumers as the gap between the most and least EV-friendly places remains substantial.

Read More →
Fan of $100 bills atop a white envelope
Industry•by Hannah Mitchell•October 13, 2026

Lenders, Consumers Take on More Auto Loan Risk

September records loosened credit access the most in over a decade as buyers took advantage of the conditions to afford trading, though loan applications fell.

Read More →
Red type R Honda civic parked on road.
Industry•by Lauren Lawrence•October 13, 2026

Next-Gen Hybrids in Sight

Dealerships can expect to see revamped hybrids from Honda next year as the company rolls out a new system and model lineup.

Read More →
Ad Loading...
Dodge ram emblem on orange vehicle exterior
Industry•by Hannah Mitchell•October 6, 2026

Gem State Stores Change Hands

A larger auto group founded in the industry’s early years sold two franchises to a neighbor group that's on a growth spurt.

Read More →
Graphic of model car driving on fake road.
Industry•by Lauren Lawrence•October 6, 2026

Charging In Motion

Honda has been researching wireless in-motion charging for electric vehicles since 2025, and new technology developments have put it a step closer to a final product.

Read More →
front grill of a Ford truck with blue Ford emblem
Industry•by Lauren Lawrence•September 30, 2026

Twin Cities Stores Sell

Minnesota-based Walser Automotive Group made what it called the most significant acquisition in its history with a three-rooftop deal in Minneapolis.

Read More →
Ad Loading...
Diesel engine on a production line in a factory
Industry•by Hannah Mitchell•September 29, 2026

U.S. Auto Sales Still Below Prepandemic Levels

Mobility Global industry observers don’t expect the market to return to the higher volumes that became routine before Covid but to stay well below its potential.

Read More →
Front of red tesla car.
Industry•by Lauren Lawrence•September 22, 2026

The Powertrain Shift

Electric-vehicle owners are backpedaling, according to new data, with product availability driving many to shift back to gas-powered engines.

Read More →
White BMW SUV driving on road.
Industry•by Hannah Mitchell•September 15, 2026

Achromatic Autos

The shades that dominate the U.S. car market don’t call attention to themselves, though grayscale may have plateaued after a 30-year upswing, research shows.

Read More →
Ad Loading...
Line of eclipse SUVs in parking lot.
Industry•by Lauren Lawrence•September 15, 2026

Used-Vehicle Affordability Worsens

Listing prices in August defied seasonal trends, rising above $27,000 for the second time this year.

Read More →