If you're Alan Mulally's gardener, it's probably a good time to ask the boss for a raise. The Ford Chief Executive Officer just pocketed $58.3 million in stock earlier in the month, and now his 2011 compensation has been made public – and it's increased some 11 percent.
Mulally received $29.5 million in 2011, according to The Detroit News, more than twice the next-highest-paid Ford officer cited in the report, Executive Chairman Bill Ford Jr., whose total compensation was $14.46 million. While Mulally's salary amounts to a paltry $2 million, he was paid a $5.46 million bonus, with the rest coming in "stock and option awards as well as personal expenses, which can entail personal use of private aircraft, cell phone use, security, and fuel and car washes," according to the report.
The News says Ford surpassed its profit targets in 2011, but missed other internal benchmarks.
Doing some quick math, Ford sold 5.7 million vehicles globally in 2011, meaning that Mulally pocketed $5.17 for each one.