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Filed under: Etc., Ford, Earnings/Financials



Bill Ford made the sacrifice, now he's earned the reward. After living sans salary from Ford for five years, Bill is due to receive $4 million in cash and up to $12 million in stock options. That doesn't cover the entire five years, but rather the last two - it's what he would have made from 2008 to now. Ford made his pledge before the downturn and couldn't have known he'd go five years before "sustainable profitability" was achieved, so the compensation committee backdated his pay to January 1, 2008.

"Sacrifice," in this case, might be a relative term, but still, we give the man full credit for stepping aside and waiting until real money was coming in. Some of his earninsg will go toward repaying loans he took out to buy Ford stock when the chips were down, and another million is going to set up a college scholarship for the children of Ford workers.

[Source: Detroit News | Image: Scott Olson/Getty Images]Report: After five-year wage freeze, Bill Ford to draw a paycheck originally appeared on Autoblog on Mon, 09 Aug 2010 08:56:00 EST. Please see our terms for use of feeds.



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