- Mar 2, 2009
GMAC CEO earned $11.6 million last year
The breakdown of what Molina earned in 2008 is actually $1.2 million in salary, $5.81 million in stocks and $4.8 million of "other" compensation, offset by stock options that pulled the grand total down by $194,000. Included in the $4.8 million "other" compensation is $2.26 million in usage of a company jet, a privilege that has since been revoked.
If your stomach is turning at the thought of a finance CEO making $11.6 million when his company is losing billions on its mortgage and automotive finance operations, you're not alone. We're guessing that Molina's 2009 will be significantly less lucrative than 2008, but likely still more than most of us feel any CEO deserves.
[Source: Automotive News subs req'd]