Mark Fields' travels on the friendly skies will soon be a relatively personal affair, as the new CEO at Ford will be required to resume air travel via the company's private planes. Fields caught plenty of flak in 2007 for flying on the company's dime to visit his family in Florida. He's since flown commercial.

According to Ford spokesperson Susan Krusel, who spoke to Bloomberg, Fields (pictured above right, with Bill Ford, Jr. at center and Alan Mulally at left) will switch to private travel "for safety and to maximize his availability for company business." In addition to his new travel arrangements, the 53-year-old exec's salary and bonuses have been revealed.

Regulatory filings by Ford revealed that Fields, whose first day in the big chair was July 1, will receive a base salary this year of $1.25 million and he'll be eligible for $3.5 million in bonuses, both of which are lower than Alan Mulally's $2 million salary and $5.88 million in bonuses received last year. That's also lower than General Motors CEO Mary Barra's alleged $1.6-million salary and considerably less than Sergio Marchionne's $3.19-million fixed salary from Fiat. Despite falling short of other CEOs, Fields' new pay still represents a 33-percent increase over his pay as Chief Operating Officer.

"We continue to believe in aligning executive compensation with the company's business performance and long-term shareholder value," Krusel told Bloomberg. Fields will likely be eligible for additional compensation via stock options, although there details on that aren't available yet.


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  • 34 Comments
      Avinash Machado
      • 5 Months Ago
      I wish Alan did not quit.
      tiguan2.0
      • 5 Months Ago
      So he still refuses to move his wife and kids to metro Detroit. Lol.
      Chris
      • 5 Months Ago
      You bust your ass, do well...you get paid. I'm sick of those whiners complaining about the "1%". Get off your ass and work. You could be at the top too!
        SquareFour
        • 5 Months Ago
        @Chris
        Man, you must've majored in over simplification, with a minor in blindly believing the rhetoric. I mean, this is just common sense...the reason they're the 1% is because they make up only 1% of the population. By definition, that's an awfully difficult club to get into. And they do their damnedest to maintain that status quo. The problem with this particular 1% is that they own greater than 80% of the wealth in this nation and prefer to sit on it instead of paying living wages, reinvesting it in their companies, funding growth or paying reasonable taxes. The rest of us 99% shoulder the load so they can be lame and greedy.
          Zoom
          • 5 Months Ago
          @SquareFour
          Nah, he just watches Faux News and repeats what he's told.
        dohc73
        • 5 Months Ago
        @Chris
        Hahah, LOL. The 20th century called, it wants its delusions of grandeur back.
      BodyBlue
      • 5 Months Ago
      Good for him! So many whiners beotch and moan about what he is making and him using a private plane.....the guy was not given anything, he worked his ass off to get where he is.........the man is responsible for hundreds of thousands of peoples jobs.....making sure that Ford makes money means those families keep eating and going to school etc.....also the millions of families that depend on the money from the auto industry. He has big shoes to fill and a ton of weight on his shoulders. Drips like the idiot below that spews talking points about 1%ers dont know their ass from a hole in the ground. People like Fields and Mulally before him are heroes in their business and deserve what they get paid.
        Hampton
        • 5 Months Ago
        @BodyBlue
        I agree.And quite frankly they wouldn't get the right man for the job UNLESS they paid that amount due in no small part to some of the qualifications You just mentioned. I think it's the UAW who get paid too much for what they do along with THIER perks.You multiply their jobs by the thousands and You'll see where the real expense is.Makes 5.25 Mil look like a bargain!
        superlightv12
        • 5 Months Ago
        @BodyBlue
        There is absolutely NOTHING any of these overpaid suits can do that a group of well educated business people couldn't do. Put together top marketing people, financial people, engineers etc. and you have the real team that tells these bozo's what they should do. They are corporate politicians and nothing more. Without advisers and think groups, they couldn't find their asses with both hands. Funny how so many companies preach teaming, but they never realize how much less they could pay to get better results. Cut out the CEO, CFO and the board of directors and save millions.
      Justin
      • 5 Months Ago
      So he gets busted, starts flying commercial, and now that he thinks no one will be paying attention again, he's going back to his private jet. Gotta love those 1%ers.
        BipDBo
        • 5 Months Ago
        @Justin
        No, it means that going commercial was only a PR move and didn't make good business sense. The company jets are needed, bought and paid for. If you are going to pay a guy close to $6 million per year to run a company, you want his time to go toward running that company, not wasted, sitting in an airport terminal.
          dukeisduke
          • 5 Months Ago
          @BipDBo
          On 9/11, Raytheon lost two executives on Flight 11. After that, corporate insurers told large corporations' top execs (like ours) that they didn't want them flying commercial if it could be avoided.
          Ken
          • 5 Months Ago
          @BipDBo
          dukeisduke On 9/11, Raytheon lost two executives on Flight 11. After that, corporate insurers told large corporations' top execs (like ours) that they didn't want them flying commercial if it could be avoided. ***** That sounds like a September 12th sort of reaction. Of all the things you could die from, a hijacking of a commercial aircraft is at the bottom. It DOES make sense to not have all of your top people on the same flight.
      Zoom
      • 5 Months Ago
      For safety? Yes, because we live in a country where CEOs are routinely gunned down or kidnapped. Jesus.
      Nick Allain
      • 5 Months Ago
      Having worked in business for a while now, I can see how a ceo of a huge public company would need a private plane. Public air transportation simply erases time from you calendar. If you're expected to be in several locations and still get things done, I think it makes some sense. People want to use things like this as examples of "corporate waste" but in reality, it's about getting everything you can out of a person's time. Why pay a CEO a lot of money just have him get felt up by the TSA all the time?
        waetherman
        • 5 Months Ago
        @Nick Allain
        I agree with you. I mean, there is definitely some cost-benefit analysis that needs to go on, and not every exec or CEO deserves a plane, but for many it probably does make some sense. A CEO flying once a week to another state or another country could easily lose a whole day to travel (I know I do) and not being able to join a meeting via conference call or hold confidential conversations could really impact that CEOs productivity and ability to manage.
      Revis Goodworth
      • 5 Months Ago
      Fields' compensation has no adverse impact on any employee - with Ford employees getting four figure profit sharing checks since the Ford recovery without any government tax dollars for a bailout, Ford and Fields can set whatever compensation they want. Those who whine about CEO compensation prove they aren't CEO material and will never rise above having the competence to lick a urinal clean.
        Daniel D
        • 5 Months Ago
        @Revis Goodworth
        Quite right Revis. Now get back to work you layabout, before I hire someone to fire you.
      TwoBits
      • 5 Months Ago
      This photo made me think of Dr. Evil laughing hysterically.
        SquareFour
        • 5 Months Ago
        @TwoBits
        Nothing creeps me out more than white guys in business suits...and I'm a white guy. People talk about racial profiling, but I would wager a white guy in a suit is aiming to screw you over more often than a black kid in a hoodie is out to rob you. I suppose I shouldn't just lay it all on the white man, there's plenty of blacks, hispanics, asians and women of all colors in suits out to take your cash as well.
      Larry Litmanen
      • 5 Months Ago
      What is Fields' batting average, how many PPG does he average. He did not prove anything yet and still gets that money.
      Andrew Pappas
      • 5 Months Ago
      Private jets are for less than one percenters. I've picked up car dealer owners from private jets. It's about time and flexibility.
      Ken
      • 5 Months Ago
      As long as the person is going good work for the company, and their time is worth many thousands of dollars per hour, this is nothing more than a responsible financial decision. This will mean the difference between a day trip vs. an overnight trip. It will allow more time in the office, things to be done faster, and generally freeing more time for more work. Further, a CEO like this is not traveling solo. Probably a minimum of 4 people going with him. A private plane is mostly a fixed cost, and the more people, the cheaper per person it becomes. In some cases, it can actually be pretty close to commercial airfare if you fill the seats. It is the same reason I won't spend an hour to save $5 on something. My time has a value, and sometimes I do invest time to save money, other times I use my money to save time. This is all that is happening here.
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