Marchionne’s Compensation Drops by Two-Thirds

Fiat Chrysler Automobiles CEO Sergio Marchionne earned €10 million ($10.9 million) in compensation last year, not including stock, according to the company’s annual report.

FCA paid him €3.6 million ($3.9 million) in salary, €6.3 million ($6.8 million) in incentive compensation and €126,600 in travel allowance.

In 2014 Marchionne collected €31.3 million in pay and incentives that included a special €27.7 million bonus for orchestrating the Fiat-Chrysler merger. His salary, bonuses and incentives totaled €3.6 million in 2013.

Marchionne has said he intends to remain as CEO through 2018, when the company completes its current five-year operating plan. Its ambitious targets are to hike revenue 50%, spend €5 billion on new models and more than double its operating profit compared with 2013 benchmarks.