General Motors will pay CEO Mary Barra compensation worth about $14.4 million this year, or about 60% more than the 2013 compensation of her predecessor Dan Akerson.
GM today released details of Barra’s compensation about two months ahead of schedule to rebut criticism that she was being underpaid because of her gender.
Last week, several politicians and commentators criticized GM for supposedly not paying Barra enough because she’s a woman.
“The company released the full figures … to correct misperceptions created by comparisons that used only a portion of Barra’s overall compensation,” GM said in a statement.
The criticism came after GM said Barra’s salary and short-term stock compensation would total $4.4 million for the year — with long-term stock incentives to be detailed in April.
Akerson was paid about $9 million in his final year as CEO. His compensation was capped by the U.S. Treasury Department while the government still owned GM shares. The U.S. Treasury lifted those restrictions when it sold the rest of its shares in January.
SOURCE: Nathan Bomey
The Detroit Free Press