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 ( 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