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GM execs take massive cut, Lutz, Wagoner see pay halved
General Motors' executives took a massive pay cut in 2005, after the board of directors not only voted to withhold bonuses, it also slashed base pay of some of the company's highest profile executives. Among them, chairman and chief executive officer Rick Wagoner took a 46 percent hit to his bottom line, from $10.1 million in 2004 to $5.5 million in 2005. Vice chairman and head of product development Bob Lutz took an even bigger percentage hit, and will take home $3 million this year (he raked in $6.5 million in 2004). John Devine, ... Read more →
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GM execs take massive cut, Lutz, Wagoner see pay halved 3 years ago on Autoblog
General Motors' executives took a massive pay cut in 2005, after the board of directors not only voted to withhold bonuses, it also slashed base pay of some of the company's highest profile executives. Among them, chairman and chief executive officer Rick Wagoner took a 46 percent hit to ...
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