DETROIT - AutoNation Inc. doubled CEO Mike Jackson's compensation in 2009, to $5.16 million, reported Automotive News. Jackson's $1.15 million base salary was unchanged, but he received a $1.7 million bonus for 2009, the company said in its annual proxy filing today. AutoNation had awarded no executive bonuses in the prior two years. Despite posting profits for those years, the company missed predetermined targets established for 2007 and 2008. AutoNation, however, exceeded financial targets set for 2009. The value of stock option awards to Jackson also rose in 2009, to $2.09 million. Jackson's $5.16 million package compares with total compensation of $2.58 million in 2008. AutoNation COO Michael Maroone earned total compensation of $3.98 million in 2009, up from $2.26 million in 2008. Maroone's $1 million salary was unchanged. He received a $1.11 million bonus and stock option awards higher in value than his 2008 option awards. AutoNation's annual shareholder meeting is May 5. AutoNation's board of directors is urging a vote of no on two shareholder proposals. One would allow holders of 10 percent of common stock to call special shareholder meetings; the second would require an independent director to serve as chairman of AutoNation's board of directors. CEO Jackson is AutoNation's current chairman.
AutoNation Doubled CEO Jackson's Pay in 2009
More Industry
A New Consumer Culture in the Auto Dealership
Dealers should aim to build a positive work environment, helping employees execute an efficient experience, from their online research to the final delivery of the vehicle.
Read More →
New-Vehicle Sales Down
A cloudy April forecast was expected due to last April’s sales surge in anticipation of U.S. trade tariff-inflated prices. Meanwhile, automakers pumped up incentives to address today’s consumer wallet woes.
Read More →
Used Autos Selling for More
A recent price spike due to several larger market forces, though it hasn’t dulled demand, is pushing more consumers to efficient models to squeeze in buys.
Read More →
Maryland Auto Group Sells
A group out West picked up the major D.C.-area collection, putting it in the upper tiers of private automotive groups in the U.S.
Read More →
Auto Lending Opens Up in March
Lenders loosened access for subprime borrowers, and consumers with negative equity reached a record high, Cox Automotive reported.
Read More →
EV Interest Varies Regionally
U.S. consumer interest in electric vehicles lags behind other countries despite the rising gas prices caused by the ongoing war in the Middle East.
Read More →
Brands Weighed on Projected Recalls
Research reveals the brands and models most likely to have higher recall rates over their lifetimes. While some brands rank high, addressing safety issues can be a selling point.
Read More →
March New-Vehicle Sales Don’t Reflect War
Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.
Read More →
Franchised Dealers Stand to Gain Service Business
Cox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.
Read More →
What Matters Most in Building Your Agency
The partner you choose for growth and expansion is key, because better is the ultimate goal instead of growth for growth’s sake.
Read More →