agent Entrepreneur logo
MenuMENU
SearchSEARCH

Ford's Mulally Earns $18 Million

March 23, 2010
2 min to read


DEARBORN - Ford Motor Co. CEO Alan Mulally's 2009 compensation package totaled nearly $18 million, including stock options and grants, the company reported. Mulally's compensation was $1 million more than he received in 2008, even though he got less cash because of a voluntary reduction that dropped his cash pay from $2 million to $1.4 million, reported The Detroit News. Ford swung back to a profit of more than $2.7 billion last year after years of staggering losses. So, most of Mulally's pay increase was a reflection of the increased value of the company's stock, which traded at about $8.50 a share when he was hired in September of 2006 and closed at $13.99 a share Monday "When CEOs take a lot of stock, you can't complain because they've got to ride it up and ride it down just like the shareholders," said turnaround expert Van Conway of Conway MacKenzie Inc. in Birmingham. "At $14, it's hard not to give the quarterback a little credit here. Ford avoided a bailout. They avoided bankruptcy. And shareholders would have lost everything if they had filed." By comparison, General Motors Co. Chairman and CEO Edward Whitacre Jr. this year will receive a compensation package worth $9 million. The United Auto Workers also has been a big beneficiary of Ford's rising share price. Last February, the union received 362 million stock warrants with a $9.20 a share strike price that made them all but worthless -- then -- as part of a deal to take over responsibility for hourly retiree health care. At today's prices, however, the UAW has netted more than $1.5 billion. "Compensation typically goes up when companies are profitable," Conway said. One person who has yet to receive any increased rewards is Executive Chairman Bill Ford Jr., who has been working without compensation since 2005. Ford spokesman Mark Truby said Bill Ford, the great-grandson of Henry Ford, will continue to forgo compensation "until the board determines we've achieved automotive profitability for a full year." When that happens, his total compensation for 2009, including stock options and grants, will be $16.8 million.

More Industry

Blue and white RV parked on beach facing the ocean.
Industryby Lauren LawrenceSeptember 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Photo of two men and one woman on a discussion panel
Industryby Hannah MitchellSeptember 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industryby Lauren LawrenceAugust 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Ad Loading...
Mitsubishi shadow line-up
Industryby Hannah MitchellAugust 25, 2026

Mitsubishi Unveils U.S. Plan

The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.

Read More →
Photo of a laptop, cellphone and eyeglasses on a desk next to an office window
IndustryAugust 24, 2026

Selling to Grow

The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.

Read More →
Mechanic holding a vehicle diagnostic device while standing above an open car hood
Industryby Hannah MitchellAugust 24, 2026

Recalled Vehicles Hit 5-Year High

Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.

Read More →
Ad Loading...
outside of car dealership with cars parked in front
Industryby Lauren LawrenceAugust 20, 2026

Auto Group Acquires Top-Performing Rooftop

Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.

Read More →
Cars from the rear on a Shanghai freeway
Industryby Hannah MitchellAugust 19, 2026

China as Pacesetter

Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.

Read More →
Orange BMW car on empty road.
Industryby Hannah MitchellAugust 14, 2026

BMW Concept Car Makes Fuel to Burn

The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.

Read More →
Ad Loading...
Six men standing for photo outside of car dealership
Industryby Lauren LawrenceAugust 13, 2026

South Carolina Auto Group Downsizes

Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.

Read More →
Ad Loading...