Alan Mulally received a 37% paycut, board member changes at Ford
Ford CEO Alan Mulally (The Torque Report)
Ford’s CEO Alan Mulally, the man behind the transformation taking place at the number 2 American automaker, has taken a 37% pay cut between 2008 and 2007. Ford has also announced that Mulally will take an additional 30% pay cut for 2009. While this all sounds like a lot, Mulally will still take home millions. However, from my perspective, the work he is doing at Ford is working, their cars are coming out at the top of their respective classes, quality and fuel economy are improving at leaps and bounds, and they have yet to take government loans like the other two domestic automakers.
In other news, two additions have been made to the Ford board of directors. House Majority leader Richard Gephardt and Anthony Earley (chairman and CEO of DET Energy Co.) were added to fill spots vacated by members who “no longer had the necessary time to serve.” For the full story, head on over to Autoblog.
Tags: Alan Mulally, Anthony Earley, Ford, Ford Motor Company, Richard Gephardt
