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Ford Pays CEO Hackett $16.7 Million in Compensation
Ford Motor Co. CEO Jim Hackett received $16.7 million in compensation for his work since moving into the job last May.
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Ford Motor Co. CEO Jim Hackett received $16.7 million in compensation for his work since moving into the job last May.
Hackett, 62, was granted a signing bonus of $1 million, base salary worth $1.3 million and $14.4 million in stock and other incentives, according to the company.
In a first for the company, Ford reports that Hackett’s annualized earnings were 285 times that of the $87,800 median pay of the company’s employees.
Chairman Bill Ford Jr. earned $15.6 million last year, $12.8 million of it in the form of stock and other compensation. Ford and Hackett also received cash bonuses linked to the company achieving internal quality and financial targets in 2017.