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GM CEO Mary Barra to earn $14.4 million in compensation in 2014, 60% more than her predecessor
3:40 PM, Feb 10, 2014
6:08 PM, Feb 10, 2014
DETROIT (WXYZ) - General Motors announced today that CEO Mary Barra's total compensation for 2014 will be around $14.4 million.
Barra will receive a salary of $1.6 million, short-term incentive compensation of $2.8 million, and long-term compensation of $10 million. The long-term compensation has to be approved by GM stockholders at the company's annual meeting in June.
General Motors reveals that Barra is earning 60 percent more than her predecessor, Dan Akerson, who stepped down in January.
GM Chairman Tim Solso said that Barra's compensation is in line with her peer group and properly weighted so that most is at risk.
The announcement comes a week after reports came up saying that Barra was actually making less than Akerson. At the time, GM said that the reports weren't taking into account long-term stock incentives.