Ford to give Mulally bonus payment after he retires
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Thread: Ford to give Mulally bonus payment after he retires

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    Ford to give Mulally bonus payment after he retires

    Ford to give Mulally bonus payment after he retires
    Automotive News
    February 19, 2013

    DETROIT (Bloomberg) -- Ford Motor Co. is planning to pay a bonus to CEO Alan Mulally after his employment ends as a reward for leading the automaker through its turnaround.

    The payment will be based on Ford's contributions to Mulally's company retirement and benefit equalization plans, the company said today in a regulatory filing. Ford reported net income of $5.67 billion for 2012 and its shares climbed 20 percent, outpacing the Standard & Poor's 500 Index's 13 percent rise.

    The agreement for the payment was dated Feb. 13 and is "a clarification of a prior agreement," Jay Cooney, a company spokesman, said in an interview. "Nothing has changed."

    No amounts were disclosed in the accord.

    Ford reclaimed investment-grade credit ratings and paid out its first dividend since 2006 on the strength of its namesake brand, the only vehicle line to top 2 million U.S. sales last year. Mulally, 67, has instituted a global product development plan called One Ford to boost profits by selling the same models globally, rather than different versions for various regions.

    Ford has earned $35.2 billion the past four years after losing $30.1 billion from 2006 through 2008. Executive Chairman Bill Ford elevated Mark Fields to COO in December from president of the Americas, positioning the 23-year veteran of the company to succeed Mulally after 2014.

    Mulally's compensation for 2012, including salary and benefits, will be revealed later this year in the company's proxy statement. Ford rewarded Mulally with stock worth $58.3 million in March of last year and $56.6 million a year earlier.

    Full article available at link.

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    Re: Ford to give Mulally bonus payment after he retires

    hmmm
    190 views & no comments...

    ...wonder if we could add a Poll:
    WHAT PERCENT of the BONUS Does He DESERVE?
    if that'd spike replies?
    or
    do we uniformly vote 100%??

    otoh
    not sure what to make of *most* of the posts in the GMI version of this thread

    Think maybe it's gone off into a couple alternate realities

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    Re: Ford to give Mulally bonus payment after he retires

    Mr M deserves it. He is my hero...
    Falcon Lover
    My cars:81 Escort GT;87 Laser (Protege);02 Focus;07 Explorer XLT
    My current car: 2012 Kona Blue Explorer XLT 4x4

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    Re: Ford to give Mulally bonus payment after he retires

    Anyone that could make a presentation to a group of investors and have it oversubscribed, $23.6B IIRC, thus getting the money Ford needed to do the turnaround. In addition, he was able to transform the culture of the company from dysfunctional to functional so the money would be used effectively. I believe he is worth what he's being paid.

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    Re: Ford to give Mulally bonus payment after he retires

    Quote Originally Posted by 2b2 View Post
    hmmm
    190 views & no comments...

    ...otoh
    not sure what to make of *most* of the posts in the GMI version of this thread

    Think maybe it's gone off into a couple alternate realities
    Is "sour grapes" the expression you didn't mention?

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    Re: Ford to give Mulally bonus payment after he retires

    ^ actually it's more like re-writing history on BOTH sides of the sour grapes vs fan issue

    for example
    Quote Originally Posted by davidlane View Post
    Anyone that could make a presentation to a group of investors and have it oversubscribed, $23.6B IIRC, thus getting the money Ford needed to do the turnaround. In addition, he was able to transform the culture of the company from dysfunctional to functional so the money would be used effectively. I believe he is worth what he's being paid.
    tho I don't have proof AND *do* believe that Mr. M. acting as a spokesperson during the FINALIZATION of the mortgage(s) could have had a strong positive effect;

    afaik he didN'T initiate the mortgage process OR decision.

    also on GMI, they seem to think he's had a lot to do with product development ... which just-imho he's been rather & rightly hands-off;
    concentrating on big-picture issues and specifically, REHAB'ing the structure & processes of the company's management
    which
    for me
    is pretty much the only thing to judge his performance (& legacy) by:
    if the fiefdom-addiction quickly returns, Mulally failed

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    Re: Ford to give Mulally bonus payment after he retires

    Ford Motor Co. is planning to pay a bonus to CEO Alan Mulally after his employment ends as a reward for leading the automaker through its turnaround.

    The payment will be based on Ford's contributions to Mulally's company retirement and benefit equalization plans, the company said today in a regulatory filing. Ford reported net income of $5.67 billion for 2012 and its shares climbed 20 percent, outpacing the Standard & Poor's 500 Index's 13 percent rise.
    Last edited by 2b2; 04-09-2013 at 01:08 PM. Reason: deleted spam = 1 week suspension

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