Rallying from a near-death experience that forced the company into bankruptcy in 2009, General Motors has rallied strongly, with a steadily-increasing cadence of new products that has raised its profile in the automotive world, and in the minds of consumers. But today, almost five years after its bankruptcy, GM is still not entirely free of government-imposed restrictions on executive compensation.
Akerson’s total 2012 compensation added up to $11.1 million. His base salary of $1.7 million remained unchanged from 2011, but he had $7.3 million in stock awards, raising his overall package for the year. GM has set a target of $9 million for Akerson’s compensation package for 2013, due to ongoing government restrictions on compensation.
Although Akerson’s compensation may seem generous, it’s approximately half that paid to Ford CEO Alan Mulally, who received total compensation, including stock options and rewards of $21 million in 2012.
GM saw an overall gain in sales in 2012, but did not see the same number of double-digit gains across its lineup as domestic rivals Ford and Chrysler. New model introductions in 2013, including the new Cadillac ATS, the 2014 Chevrolet Impala, and upcoming rollouts of the 2014 Cadillac CTS, the 2014 Chevrolet Silverado and GMC Sierra 1500 and other new models are expected to boost GM’s 2013 fortunes.