Ford Hikes CEO Fields’ Compensation 19%

Ford Motor Co. paid CEO Mark Fields $22.1 million in total compensation last year, up from $18.6 million in 2016.

Executive Chairman Bill Ford Jr.’s total compensation rose 8% to $13.9 million last year. The increases came as the company’s stock price fell 14% and pretax earning slipped 4% to $10.4 billion. The declines reflect heavy spending on advanced personal transportation services and such technologies as electrification, vehicle connectivity and self-driving systems.

Ford reports that its top management team reached 76% of board targets for cash flow and automotive operating margin in 2016. But they achieved only 8% of their goal for automotive revenue. The company, as in 2015, did not grant stock options.

Ford has warned that its massive effort to broaden its scope from carmaking to transportation provider will continue to hurt earnings this year. The company predicts a rebound in results in 2018, even though most analysts expect an industrywide decline in vehicle sales in the U.S.