Seven GM Executives to Get $7.5 Million in Stock
DETROIT - General Motors Co. is disclosing that seven executives will get roughly $7.5 million in company stock as part of their pay packages, The Associated Press reported.
The executives include North American President Mark Reuss, Vice Chairman for Product Development Tom Stephens and President of GM Europe Nick Reilly, the company said in regulatory filings Monday.
Previously GM had only disclosed a $9 million pay-and-stock deal for CEO Ed Whitacre, $6.2 million for Chief Financial Officer Chris Liddell and $5 million for Vice Chairman for Corporate Strategy Stephen Girsky.
GM officials have said the company could sell stock to the public late this year. No date has been set.
The U.S. government owns 61 percent of GM because it gave the company roughly $50 billion in aid. GM has repaid $6.7 billion, with the rest converted to stock.
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