Being the top paid CEO in the automobile industry might not be much to crow about in our world of TARP bailouts and Japanese dominance, but for Ford CEO Alan Mulally, his take home pay is significantly greater than his U.S. and Japanese counterparts. A June 29th article for Auto in the News titled Ford CEO Mulally Gets Paid More Than Top Three Japanese Execs Combined tells us that: “As the only Big Three automaker that didn’t get a bailout and fall into bankruptcy… [Ford’s CEO] Mulally has been an integral part of the Blue Oval’s ongoing turnaround, and as a result his efforts are reflected in his salary. In 2009, Mulally reportedly earned $17.9 million in cash and bonuses. This officially makes him the world’s top-paid auto chief.”
Perhaps these seemingly huge paychecks are part of our national culture of “rock stars” where entertainers, athletes and, maybe even CEOs are paid because they are the product. No question that a company’s CEO isn’t your average “Joe”, and it is clear that Mulally is, if not “the product” per se, he has become at least a hero of sorts for the Ford Motor Company.
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