General Motors Co Chief Executive Officer Mary Barra received a compensation package worth $21.6 million in 2019, 1.1% less than the previous year, according to the U.S. automaker's proxy statement released on Monday.
FILE PHOTO: Mary Teresa Barra , Chairwoman and CEO of General Motors Company attends the unveiling its redesigned mid-engine C8 Corvette, the 2020 Chevrolet Corvette Stingray, in Tustin, California,U.S., July 18, 2019. REUTERS/Mike Blake
- General Motors Co Chief Executive Officer Mary Barra received a compensation package worth $21.6 million in 2019, 1.1% less than the previous year, according to the U.S. automaker’s proxy statement released on Monday. Barra’s pay package included a salary of $2.1 million, stock awards worth $12.14 million, options worth more than $3.5 million and a performance award worth $2.73 million, according to the proxy. Her salary remained unchanged from 2018, while performance award was 38.7% lower from 2018.
Barra’s total compensation package was valued at $21.63 million, below the $21.87 million she received in 2018. Barra, GM’s chairman and CEO, was paid $21.96 million in 2017.The company on Monday suspended its quarterly cash dividend on its common stock and its share buybacks to save cash in the face of the coronavirus crisis that has severely hurt global automobile sales.
GM, which has been forced to shut some production in North America along with other car makers, had also said last month that compensation of board members will be reduced by 20%, while executives will see a cut of 25% to 30%.
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