GMAC CEO earned $11.6 million hindmost year
The late line of rule bailouts has placed a 50,000-watt arc light on chairman of the board recompense. Executives from Detroit automakers possess already gashed up their recompense to display the communal and their own workforces that they're sacrificing for the greater fine. There hasn't been much centre, notwithstanding, on resources arm executives, although there probable desire be after Automotive Tidings well-informed that GMAC CEO Alvaro de Molina was paid $11.6 million in 2008. Molina's 2008 bonanza comes single year after he pulled in almost $5 million in 2007; an astonishing amount of currency in view of he started at GMAC in September of that year.
The collapse of what Molina earned in 2008 is really $1.2 million in income, $5.81 million in stocks and $4.8 million of other compensation, compensate near supply options that pulled the large sum total down near $194,000. Included in the $4.8 million other compensation is $2.26 million in use of a companionship jet, a benefit that has since been revoked.
If your abdomen is turning at the thinking of a resources CEO making $11.6 million when his companionship is losing billions on its mortgage and automotive resources operations, you're not unaccompanied. We're guessing that Molina's 2009 desire be significantly less lucrative than 2008, but probable quiet more than most of us touch any CEO deserves.
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