Marchionne says he won't jack up Chrysler executive pay with cap gone
Automotive News reports that Chrysler CEO Sergio Marchionne will continue to keep a tight rein on executive pay. The outspoken chief executive reportedly said during a conference call that any thoughts of "distributing cash indiscriminately are probably misplaced." Having said that, Marchionne also adds that Chrysler intends to remain competitive with regards to wages, yet restraint will continue to be used.
While Marchionne is downplaying the fact that Chrysler no longer has a $500,000 executive pay cap, we're guessing that the automaker's top management talent is thrilled about the possibility of future pay hikes.
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