Alan Mulally, who was hired away from Boeing to become the new Ford CEO, may become the highest paid executive in the auto industry.
Ford filed a document with the SEC that states that Mulally will recieve a $2 million base salary, a $7.5 million signing bonus, and $11 million to offset bonuses, stocks, etc. he gave up at Boeing.
He will also get restricted stock and options that could push his total compensation to $35 million for the year.
Morale is low among Ford employees, so some think that the United Auto Workers will complain.
Compensation experts, however, doubt that Ford could have lured any big stars without a package like this.
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