Ford (NYSE: F ) CEO Alan Mulally took a 29% pay cut for 2012, according to a SEC proxy statement�filed today. The executive pulled in $21 million in overall compensation, but felt the squeeze due to Ford's failure to achieve three-quarters of its performance targets.
Source: SEC PRE 14A�
| � | 2011 ($) | 2012 ($M) |
|---|---|---|
Salary | $2 | $2 |
Bonus | $5.5 | $4 |
Stock Options and Addtl. Compensation | $22 | $15 |
Total: | $29.5 | $21 |
Source: Bloomberg�
Although market approval for 2012 is evident from the corporations' 16.4% stock price increase (the S&P 500 bumped up 11.7%),�the blue oval missed on goals for profit, cash flow, and market share.�
Previously CEO of Boeing Commercial, Mulally joined Ford in 2006�to pull the automaker through the Great Recession and beyond. According to CNNMoney, Mulally has accumulated more than $300 million of Ford shares over his career.�
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