GM: First female CEO to make $14.4M

[Dave]

Granted I'm no expert on how big companies are run but I question how a NEW CEO is set to make more money then the former one. I'd much prefer that we give big money to people that have proven their worth instead of worrying that because the new CEO is the first woman to hold the position that they feel the need to be sure that she makes more money. I say pay here the same and if after the first year GM is doing better then raise her pay as you would in any regular job.

General Motors said Monday that its first female CEO, Mary Barra, will make more than her male predecessor did as the company moved to rebut criticism of an alleged gender pay gap between its current and former chief executives.

The company said Barra will be paid $14.4 million in 2014, compared to a $9 million salary that was paid to previous GM CEO Dan Akerson in cash and stock.

GM had been criticized after reports surfaced last week that Barra's base pay would be lower than Akerson's, but the company called the reports "premature" because Barra's stock and performance compensation packages had not yet been released.

"As a new CEO, Mary's total compensation is in line with her peer group and properly weighted so that most is at-risk," GM Chairman Tim Solso said in a statement.  "The company's performance will ultimately determine how much she is paid."

GM was praised for its selection of Barra to replace Akerson in December because she became the first woman to lead an American car company.

Barra is currently one of 23 women leading a company that is listed in the Fortune Magazine 500 list of the most profitable companies in the U.S.

GM is the seventh-largest company on Fortune's 500 list, making Barra the highest-ranking female chief executive in the country.

Barra took over the spot of highest ranking female chief executive from Hewlett-Packard CEO Meg Whitman, who ran unsuccessfully for California governor in 2010.

Barra has not commented publicly on the dust up about her pay.

http://thehill.com/blogs/transportation-report/automobiles/197982-g...

[Willy]

One thing I don't like about it is that after we bailed out GM they still overpay the top dogs even when they couldn't keep their company out of financial trouble.

[Dave]

Exactly!

The tax payers lost billions on the GM bailout, so of course the only sensible thing to do is for the CEO to make millions of dollars. How about we let GM show steady growth for 5 years and until that point we pay the CEO about $500,000.. if at that point the company is in sound shape, then give the CEO a nice raise.

[easymoney]

Thanks to the bail out, there 49 billion to the good right out of the gate. Which they have stated they are not required to pay it back.