Ford chief executive Jim Hackett surely had a successful 2017, having earned $16.73 million, as documents filed with the Securities and Exchange Commission have confirmed.
Hackett took over the reigns of Ford from Mark Fields, who earned $21 million despite spending most of the year without a position at the automaker, on May 19 last year.
Hackett’s pay included a $1 million signing bonus and $14.4 million in stock awards and other incentives. He also received a cash bonus after the automaker met internal targets for quality, revenue and other financial measures, The Detroit News reports.
Since landing the top job at Ford, Hackett has been hard at work restructuring the company, including cutting expenses in marketing and engineering. Additionally, the former office-furniture executive has been shifting investment away from cars and towards trucks and SUVs.
A plethora of other Ford executives also received healthy compensation packages for 2017. Executive chairman Bill Ford Jr. made a total of $15.63 million last year, including a $1 million incentive-based bonus. Executive vice president and president of global operations, John Hinrichs, also made $12.12 million last year, almost double what he received in 2016. Additionally, executive vice president and president of global markets, Jim Farley, made $13.47 million in 2017.
To put these figures into perspective, Fiat Chrysler Automobiles’ chief executive Sergio Marchionne made a touch under $12 million in 2017.
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