Saturday, September 09, 2006

FORD PAYS NEW CEO $18.5 MILLION UP FRONT

New Ford CEO Alan Mulally received an up-front payment of $18.5 million to take over the trouble automobile manufacturer. Mulally will also receive a $2 million annual base salary, 4 million stock options, and 600,000 restricted stock units, while an incentive plan that includes a $3.5 million target bonus and other incentives will likely boost his base salary considerably higher.

AP

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