GM Signals Possible CEO Retirement with 44% Pay Hike

General Motors Co. boosted the total compensation of CEO Dan Akerson to $11.1 million last year from $7.7 million in 2011.

GM says the pay change reflects the possibility that Akerson may retire before three-year stock awards would vest. The CEO has not said when he will step down. But he hinted to reporters in January that he might not stay beyond another year or two.

Akerson's salary remained at $1.7 million, and his perks increased only slightly to $70,000. But more of his stock awards were "salary" shares which are available immediately than restricted stock that vests over three years. The change required the company to value the stock at $9.3 million compared to $5.9 million for a similar amount of longer-term awards in 2011.

Other GM executives collecting higher compensation last year include Vice Chairman Steve Girsky (+3% to $5.4 million) and CFO Dan Ammann (+37% to $4.8 million).

Tim Lee, head of global manufacturing and international operations, received $6.6 million. Global product czar Mary Barra was paid $4.9 million. It was the first year in those jobs for both.