Ford CEO Hackett’s Compensation Jumps to $13.4 Million

Jim Hackett, who was named to replace Mark Fields as CEO at Ford Motor Co. on Monday, will receive as much as $13.4 million in his first year in the job.

Hackett’s previous pay as chairman of the carmaker’s Ford Smart Mobility unit, was $716,000. As CEO, his base salary jumps to $1.8 million. He also will collect a $1 million bonus, stock worth about $7 million and the potential to earn another $3.6 million in compensation linked to Ford’s performance targets.

Fields’ total compensation last year was $22.1 million, according to regulatory filings. Hackett earned $5.8 million per year as CEO at office furniture maker Steelcase Inc. before retiring from that job in 2014.