Critics Chide GM for Underpaying Barra

General Motors Co. won't finalize its new executive compensation plan until June. But critics wonder why the company started Mary Barra as its first female CEO last month at half the compensation of outgoing CEO Dan Akerson.

GM said in January that Barra's total compensation package this year would be worth about $4.4 million. That compares with the $4.9 million she earned two years ago as senior vice president of global product development and about $9 million collected by Akerson in 2013.

Critics note that Akerson, now an outside advisor to GM, apparently will continue to receive about $280,000 more than Barra this year.

They point out that Barra, with 33 years at GM, has considerably more experience in the auto industry than Akerson, who arrived with none five years ago. They also point to GM's proxy statement, which says the company calculates compensation according to an executive's "tenure, experience and specific responsibilities."

Last spring GM groused that the Dept. of Treasury's "rigid, out-of-step" restrictions on its top 25 executives made it difficult for the company to attract and retain talented leaders. Those limits vanished in December when the government sold its stake in GM.