Despite only holding the reins of General Motors for the last four months of 2010, company CEO Dan Akerson received $2.5 million in compensation last year. Akerson took over the post from Ed Whitacre on Sept. 1, after Whitacre stepped down. According to The Detroit News, Akerson was paid $566,667 in salary from GM and a further $1.76 million in stock awards. Not bad for four months' work.
Akerson's earnings are subject to review by the federal government, since they still own a 32 percent share of the company. For 2011, Akerson won't get a raise, which means he'll earn $9 million this year, the same amount Ed Whitacre would have been paid had he made it an entire year.

Akerson was at the helm for GM's IPO in November, and helped the company close out 2010 posting its biggest profit in ten years.

[Source: The Detroit News]


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  • 27 Comments
      RICK
      • 3 Years Ago
      Not bad for someone who has yet to green light one new vehicle. Just think every new successful product in GM showrooms today was green lighted by the Old GM management team. The turn around program must have been in place. About 7 years too late but it must have been in place. Let's see Equinox, Terrain, LaCrosse, Camaro, Regal, Cruze, SRX, etc. The new GM Team has nothing in the showroom yet. The stock price is dropping and the Governent is rushing to get their shares on the market this summer. Gas prices are going to kill GM profits. GM makes the bulk of their profits on Trucks and SUV's. Truck sales for one month will blow away Volt sales for the year! I want GM to be the world standard but I don't see it happening. They need car people at GM. I bet Akerson does not even own one old collectable car. Do you think he understands the heritage of an SS or the worlld standard of luxury Cadillac use to represent?
      diffrunt
      • 3 Years Ago
      It seems that once one gains entrance to CEO land, it doesn't matter whether one screws up or not, one still gets stratospheric compensation.
      • 3 Years Ago
      [blocked]
      Shiftright
      • 3 Years Ago
      Damn, I thought I did well at $25k last year...
      IBx27
      • 3 Years Ago
      This guy is running GM right into the ground, to where they were before they went bankrupt. Why did Whitacre have to go? This guy is just another bean counter who wants to increase production speed and decrease costs, which makes for vastly inferior products. If they don't get him out of there soon, I'm going to have to be 100% Ford.
      Ducman69
      • 3 Years Ago
      Company goes bankrupt thanks to CEO's and board members with multimillion dollar compensations and private jets with lazy inefficient Union Workers costing $75K+ after ridiculous benefit packages for tightening a couple bolts, and the government takes MY TAX MONEY that I earned to pay for this crap? This is not the "change" we asked for...
        rgee01
        • 3 Years Ago
        @Ducman69
        Sure, but don't forget it's the last President who started this, so he is not immune from blame either. Both share the blame.
        Jim
        • 3 Years Ago
        @Ducman69
        *beep* neoconservative talking points detected. Please return to your regularly scheduled FOX News programming to receive latest instructions on how to think.
          caddy-v
          • 3 Years Ago
          @Jim
          When you take into consideration the "neocons" at least have the ability to think rather than the liberal amebas severly lacking in a single brain cell, I'll choose "neocon" any day of the week.
      hgeorgech
      • 3 Years Ago
      Anyone who would take on the CEO position in a corp the size of GM (if attracted to GM from another company) would anticipate compensation at least that amount ... that's what large corps pay (some, even much MORE than that), Ideally, such a CEO should be willing to take 50-60% of his/her compensation in company stock. At least Akerson HAS such an arrangement with GM! If you want to see some really grossly overpaid execs, look at what some of the Presidents of Universities get ... makes GM's CEO package look like small change!
        DrEvil
        • 3 Years Ago
        @hgeorgech
        Any of the idiots who cry and whine here would gladly take this job. GM has made strides ahead of where they were two years ago. They are still in the process of consolidating their business, and is showing efficiencies that were unheard of prior to 2009. Looking at any company's stock should not be the way to measure a company's health. Look at their product portfolio, look at the performance of their products in the market place. Are they a growing or shrinking presence in their industry?, I still think GM filing for an IPO this year, was pre-mature. There is still a lot of political anger directed at GM, they should have kept their noses to the grindstone and get on with the business of build and selling cars. Lastly, if Chevy is really going to be a global brand, Vauxhall has to die. Opel and Holden also need to be folded into GM's "core four" somehow. Still too many brands.
        Den in IN
        • 3 Years Ago
        @hgeorgech
        Why is it then that bankers are limited to 150 grand per year because the government holds the cards and this is ok?
        • 3 Years Ago
        @hgeorgech
        [blocked]
      dtanker607
      • 3 Years Ago
      Just another sad day of the Gov't giving out money we will pay for this for years to come. I'll never buy another GM product.
      Toneron
      • 3 Years Ago
      Corporatism fail
        rgee01
        • 3 Years Ago
        @Toneron
        Actually, I think it's a Corporatism success - a success, that is, for the expansion of Corporatism.
      Andre Lavoie
      • 3 Years Ago
      I can only speak for myself, but I know I`d be really pissed if my yearly salary was made public and then debated about whether or not it was reasonable. Although, since in this case the public owns a stake in the company, it may be justifiable.
        HaterSlayer
        • 3 Years Ago
        @Andre Lavoie
        If I was making $2.5 million in 4 months then they could so haters can hate :p
      G.
      • 3 Years Ago
      Supply&demand: EXECUTIVE EXPERTISE COSTS MONEY. $2.5 million/year is pocket change compared to what is at stake here ($30 billion of taxpayer's money not to mention the entirety of one of America's largest corporations). If paying a CEO millions of dollars a year means that GM can remain a player in the world-wide automotive industry, employing American citizens and paying U.S. corporate taxes, I'm fine with it. Remember the big picture people
        mythicalprogrammer
        • 3 Years Ago
        @G.
        Pft... The Japanese CEO gets pay less than USA and they're doing fine. The mentality of paying huge sum of money for CEO equates to performance is stupid. I'm sure GM CEO and Chrysler CEO weren't paid enough and that's the reason why they had to bail out. Hell even Ford was in pretty damn bad position, land rover, jaguar, aston martin, and Volvo are gone. Mercury is gone now too. Hey, with that logic, why you don't they pay those scientist more money? What at stake here is finding cure for cancer. Which is much of a higher stake than running a car business. The notion of more money will solve crap doesn't help. Social scientist have studies on this. And it only helps for manual labor. Any money incentive for work that involve mostly thinking, money works against you. Here's a video about this subject about it. http://www.youtube.com/watch?v=u6XAPnuFjJc
        DontTrustPoliticians
        • 3 Years Ago
        @G.
        Hello, I'm Dan Akerson. Thank you for my raise and your support. Rest assured, your tax dollars are being spent wisely... (suckers.... heh, heh, heh)
      • 3 Years Ago
      [blocked]
        • 3 Years Ago
        [blocked]
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