Ford Motor Co.'s new chief executive will get an annual base salary of $2 million and an immediate payout of $18.5 million for taking the job
Ford also granted Mulally 4 million stock options and 600,000 restricted stock units.
Ford and other U.S. automakers have been battered by rising health care and material costs, tough competition from Asia and, recently, the rapid decline of the market for pickups and sport utility vehicles _ high-margin products that for years have sustained their bottom lines.
Yeah, Health care and tough competition is really killing em. Now i'm sure every part plays some role in all the problems. I've owned two fords recently and both gave me nothing but problems while a 1993 Honda civic has given me none with 140k miles. In my opinion that problem needs to be resolved before anyone is worth 2 million a year base salary.The restructuring first announced in January calls for cutting 30,000 jobs and closing 14 facilities by 2012.
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