• Sep 10, 2010
Dan Akerson, the man who just recently replaced Ed Whitacre as General Motors' CEO, will be paid an annual salary of a cool $1.7 million. That's an awfully pretty penny, but Akerson indeed has his work cut out for him – The General is finally on its way to public ownership, with a stock IPO in the works for later this year.
In addition to his $1.7 million, Akerson will also receive $5.3 million worth of GM stock, delivered over the course of three years beginning on September 30, 2011. Furthermore, he will receive an additional $2 million in stock under GM's long-term incentive plan.

This may seem like quite a bit, but things are a lot richer (literally) just down the road in Dearborn. Ford's CEO, Alan Mulally, makes substantially more – he netted $17.9 million in cash and bonuses in 2009 – though this is largely due to the fact that the government bailouts have limited the CEO salary amounts for both GM and Chrysler.

[Source: Edmunds Auto Observer | Image: John F. Martin/AFP/Getty]


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  • 37 Comments
      • 4 Years Ago
      Not to worry, GM will just cut more U.S. hourly employees and send the work overseas or across the border. Your tax dollars at work. Why do the foreign car companys not pay their leadership as much as the U.S. counter parts earn?
        • 4 Years Ago
        Yeah, that makes sense, since they are bringing more production back to the US. Other than the Caprice PPV, every single GM vehicle sold in North America will be made in North America next year. They're even bringing Aveo production back to the US.
      lauren
      • 4 Years Ago
      having to take over after the unions have raided the place, is going to be a hard job, I hope he makes more in the future, I find it strange that the govt. says you can't make that much money, but dosen't touch football players, basketball players, soccor players and baseball players, grossly over paid and require limited amount of intelligents or better still hollywood, please that is even worst. Come on govt. less look into these people. What a joke if the unions wheren't involved the govt. wouldn't touch any of it.Its really none of your business what someone makes but if you are going to punish then punish them all. We no longer watch pro nothing except baseball and after the bull from hollywood to elect Obama, I wouldn't buy a ticket to see any thing they put out.
      • 4 Years Ago
      1.7 MILLION?

      Pfft. I'd do it for $300K/year plus access to a ZR1 or CTS-V for every day of the week. And as many tires as I can melt underneath supercharged V8 fury.
      • 4 Years Ago
      After Obama allowing the tax cuts to expire he will have to file for welfare is take home will be around 600k. He will be making less than Toyota's CEO.
      • 4 Years Ago
      And people gripe if an auto worker makes 50 grand a year and blame the uaw for all of gm's woes.
      • 4 Years Ago
      ACCOUNTING? NO! CRUDE BOOKKEEPING! "MARK TO MARKET" HAS TWO OBJECTIVES : ALLOW BANKS TO DEMAND MORE COLLATERAL. TO STEAL "INVESTORS" MONEY! "INVESTORS" ARE NOT "TRADERS"!. ARE THERE ANY RATIONAL PERSONS IN OUR GOVERNMENT? "! THE MESS IS ILLEGAL AND SHOULD BE ABANDONED NOW! BOOKKEEPING IS BOOKKEEPING AND EVERYONE KNOWS THAT FAIR VALUE CHANGES MOMENT TO MOMENT.
      Trailblazer81
      • 4 Years Ago
      GM CEO salary an benifits are for to much, all CEO pay is obscene and immoral.
      joe
      • 4 Years Ago
      Some old axiums come to mind. 1) Do as I say not as I do. 2) Is this the pot calling the kettel black.
      • 4 Years Ago
      Most CEOs are overpaid but have any of you noticed how much jocks and Hollywoodies are making?
      • 4 Years Ago
      Fairly reasonable, if he does not screw up. I'd make the stock time-locked, so he not cash out before crashing the company (if he did a poor job, that is).
      • 4 Years Ago
      Hey Golbo Tua...........How do you Knowa Thisa ???????????????????????????????????????????????????????????????????????????????????
      • 4 Years Ago
      oh no! only $1.7M because it's limited by the government? NOT FAIR!....
        • 4 Years Ago
        $1.7million ain't gonna buy you a private jet or yacht or big house. Government shouldn't limit what people make.
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