Sergio Marchionne will be buying fewer of his iconic sweaters, as his 2013 pay from Fiat took a dip from $6.24 million to an even $5 million. Marchionne, who was also CEO of Chrysler, made $307,989 thanks to some stocks and benefits from the American company, although he didn't take a salary. Of that $5 million paid by Fiat, $3.19 million came from Marchionne's fixed salary while the remaining $1.8 million was paid for hitting unspecified performance targets.

The news comes from Fiat's compensation reports, which also showed that the 61-year-old, who already owned three million shares in Fiat at the end of 2013, was able to receive an additional 2.3 million shares through a stock incentive program. According to Automotive News Europe, the additional shares would be worth about $25 million at today's prices, although so far, Marchionne has declined to claim the extra shares.

According to ANE, Fiat reported a 2013 trading profit of $4.7 billion.

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    • 1 Second Ago
      • 1 Year Ago
      Properly schooled American MBA: "Who the heck is this loser? Get him out of there! He didn't take salary from Chrysler, he declined extra stock ... what does he think he's doing?! He's ruining it for everybody!"
      • 1 Year Ago
      While $5 million is far from poverty, that's relatively low for a CEO of such a major company. He tends to decline much of his compensation, which is more than can be said for most of his peers. If you really care about a company, you would want to funnel more money into the company instead of your wallet.
      • 1 Year Ago
      If you base his pay on merit alone he is well worth $6.2 million and then some.
      Tariff The Imports
      • 1 Year Ago
      He's a snake who is paid $4,999,999.99 too much to pedal crap. Only thing worse than the awful company he oversees is the other auto company that needed a bailout, went bankrupt and didn't learn a thing or change its failed practices. They're better known as Government Motors and producers of garbage.
      • 1 Year Ago
      Remember Akerson repeatedly whining to the media about not making a competitive wage at $9+ million a year? This guy is kicking ass and breathing life into a raped and pillaged Chrysler (ala Diamler) for half the price. He is doing a good job too. Very inspirational.
        • 1 Year Ago
        Actually the Chrysler products are boosting Fiat. I'll wait to see what new products will be coming. It could be a good marriage or an ugly divorce.
      • 1 Year Ago
      What a said world we live in if this is considered low pay. I like to think he's declining a higher wage in order to give more to the people who work hard to make his company successful, that may be wishful thinking though
        • 1 Year Ago
        The article didn't specifically call it "low"; it only pointed out that it decreased from the year before.
      • 1 Year Ago
      Executives taking less money from the company is real job creation.
      Wonder Woman
      • 1 Year Ago
      5 Million? OMG how will he eat?
      • 1 Year Ago
      "so far, Marchionne has declined to claim the extra shares" Now that is something you don't hear every day. A CEO leaving money on the table!
      • 1 Year Ago
      He is worth every cent of it because he is a good leader.
      • 1 Year Ago
      This is a true Patriot.This is the reason I only buy cars from this company,and will continue to do so.This man believes in this company,and is putting his money where his mouth is,and what more can you ask for.Good luck Sergio,and I am awaiting my Alfa C4,and Maserati SUV to add to my Abarth Fiat 500 and my Maserati Grand Tourismo.
      • 1 Year Ago
      He is quite much Canadian Italian (or vice versa)...He show to the world car business needs car boys instead ...investors!
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