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Ford's new CEO fired less than the CEO Ford



  Ford CEO predicts an end to the overload

Ford fired its CEO last year. But he still did more than the new man. Mark Fields lost his job in May, but he took home $ 23.5 million for these five months of 201
7. Jim Hackett, the new CEO, received $ 16.7 million – for Ford's self-employed auto business in the first half and CEO for the second half

Hackett received a $ 1 million bonus when he was named CEO. His annual salary of $ 1.8 million was roughly equivalent to Field Year's salary. Pretended Hackett took $ 1.3 million salary and Fields $ 1.1 million.

Part of the salary difference between the two executives is that Fields received $ 8.2 million in exit packages. The value of Fields' defined benefit plan increased by $ 6 million. Newer executives like Hackett are not participating in this type of retirement plan. Fields had been with Ford for 28 years at the time of his departure.

Related: Ford benefits from lower revenues, higher costs

Fields was fired in part because of Ford's collapse. Ford ( F ) Stocks fell 37% versus Fields' term as CEO. Since Hackett took the job, equities were essentially flat, rising only 2% in 10 months, and posting significantly worse gains in the broader market.

CNNMoney (New York) First published March 30, 2018: 8:37 pm ET


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