agent Entrepreneur logo
MenuMENU
SearchSEARCH

Chrysler's CEO Received No Salary Last Year

February 25, 2011
2 min to read


Chrysler Group LLC Chief Executive Sergio Marchionne received no salary for running the Auburn Hills, Mich., auto maker last year despite his work to revive the auto maker.


Mr. Marchionne, who is also CEO of Fiat SpA, did receive shares worth $600,000 as a Chrysler director. This is the first time Mr. Marchionne's decision not to receive a salary has been made public since he took over the day-to-day operations of Chrysler in June 2009, reported The Wall Street Journal.

Ad Loading...


The disclosure was part of a lengthy document Chrysler filed with the Securities and Exchange Commission on Friday. The filing, said spokeswoman Shawn Morgan, fulfills the company's goal of providing more transparency although Chrysler is a private company.


Mr. Marchionne has said he hopes to take Chrysler public in the second half of this year. The filing was unrelated to any IPO, Ms. Morgan said. The company reported a 2010 loss of $652 million on revenue of $41.95 billion.


Chrysler's fleet sales grew to 36% of the auto maker's overall U.S. sales compared with 30% in 2006, the filing disclosed. Wall Street analysts have criticized the auto maker's reliance on selling vehicles to fleet operators, such as rental car companies, since those sales dilute the brand name. Chrysler has vowed to reduce fleet sales this year and return to the industry norms of about 25%.


Chrysler's U.S. market share finished at 9.2% in 2010 compared with 12.6% in 2007.


The auto maker also said its total employment in 2010 rose to 51,623 salaried and hourly employees compared with 47,326 in 2009. Mr. Marchionne added shifts and employees at Chrysler plants throughout last year as the auto maker upgraded and launched 16 models.

Ad Loading...


As part of those model introductions, Chrysler invested $155 million to upgrade its plants with new equipment.


Mr. Marchionne intends to introduce the Alfa Romeo brand in Mexico this year followed by the U.S. in 2012. As chief executive of Fiat, Mr. Marchionne earned $4.8 million last year.

More Industry

Group photo of men outside storefront.
Industryby Hannah MitchellMay 28, 2026

Pennsylvania Dealership Under New Retailers

The sale of the Chrysler Dodge Jeep Ram store puts a family auto group on a leaner path as first-time dealers take the helm.

Read More →
Hallway with lockered wiring and computer
Industryby Lauren LawrenceMay 28, 2026

Battery Storage Takes Priority Over EVs

U.S. automakers are prioritizing battery energy stationary storage over electric-vehicle production as the consumer demand for EVs lags the rest of the world.

Read More →
Gray-scale photo of a line of Mini cars in a dealership parking lot
Industryby Hannah MitchellMay 27, 2026

Auto Dealers Feel Better But Not Great

A second-quarter Cox Automotive poll of franchised retailers and independents found better views of the current market after a good spring but anticipation of third-quarter storminess.

Read More →
Ad Loading...
Closeup photo of the front of a white car
Industryby Hannah MitchellMay 21, 2026

New-Vehicle Sales Picture Relative

A May forecast is complicated by last spring’s trade tariff effects on auto retail. Despite continued hard realities, many consumers took advantage of ways to bite the bullet.

Read More →
Nissan logo on front of building
Industryby Lauren LawrenceMay 21, 2026

Auto Group Acquires Third Nissan Rooftop

Iowa-based Coleman Automotive Group recently acquired its seventh dealership, McGrath Nissan, which it renamed Nissan of Elgin.

Read More →
Couple talking with auto salesman next to new car inside dealership
Industryby Hannah MitchellMay 20, 2026

April Less Affordable

Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.

Read More →
Ad Loading...
Wooden people figures of different colors in a row, similar to board game pieces
IndustryMay 20, 2026

Building an Extraordinary F&I Agency

Work to determine your specialized talent, because that fact will determine everything about your agency’s future.

Read More →
Ingredient card, policies and procedures, fixed operations, variable operations, data security, audit
Industryby Jim GantherMay 19, 2026

Recipe for Compliance

The secret to both amazing barbecue and compliance is the same: understanding the basics and committing to a process.

Read More →
Photo of new Chevrolet Bolt parked on a beach
Industryby Hannah MitchellMay 14, 2026

EVs Getting More Attractive

A growing percentage of U.S. consumers are open to switching and fewer are adverse to the idea, according to a recently completed survey. That’s despite the end of a tax break.

Read More →
Ad Loading...
Benchmark bar graph showing April 2026 EV Sales
Industryby Lauren LawrenceMay 14, 2026

EV Sales Drop in April Following Surge

North American electric-vehicle sales were down 28% year-over-year, a sharp contrast from global EV sales growth of 6%.

Read More →
Ad Loading...