GM's CFO to receive $1.55 million base salary

Hmm, I wonder how the UAW is going to react to this. Reuters reported yesterday that GM's new Chief Financial Officer, Frederick "Fritz" Henderson will receive $1.55 million base salary — bonuses and additional compensation not included. The man he's replacing, Jim Devine, is staying on for a year to aid in the transition, meaning that the $1.55 million HE gets is also coming out of the coffers.

If it's any indication of what Henderson will receive on top of his base salary, Devine received a $1.4 million bonus, options on 160,000 shares, $795,000 through an incentive plan, and the almost $400,000 GM agreed to pay when Devine lost his pension from Ford.