FCA Sets $14 Million Compensation for CEO Manley

Fiat Chrysler Automobiles NV has created a $14 million annual compensation package for Mike Manley, who took over as CEO last July.

The compensation begins with a $1.6 million base salary. Depending upon the company’s performance, he also will receive a bonus and equity worth as much as $2.4 million and $10 million, respectively.

For his half-year as CEO in 2018, Manley is collecting base pay of $681,000, a $367,000 bonus and $3 million in restricted stock that will vest this year if FCA meets financial targets.

Sergio Marchionne, who died suddenly on July 25 at age 66, received combined compensation worth $54 million last year. Most of his pay was for achieving multi-year company performance targets.