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Business Briefing / Automotive

Ford paid Mulally $13.6 million

March 25, 2009|TIMES WIRE REPORTS

Ford Motor Co., which lost a record $14.7 billion last year, awarded Chief Executive Alan Mulally $13.6 million for 2008, a year when the stock fell 65%. His total pay fell 37% from 2007.

Mulally's compensation included $2 million in salary and no bonus, according to a regulatory filing. Ford, which had a 17.5% decline in global vehicle sales in 2008, is the only major U.S. automaker not seeking U.S. loans.

In 2007, Mulally, 63, received a total pay package worth $21.7 million, which included $2 million in salary and $7 million in bonuses.

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