Ford Doesn't Want to Cut CEO's Pay

Mulally rebuffed $1 salary suggestion, 'OK' making $2M
By Will McCahill,  Newser Staff
Posted Nov 27, 2008 4:09 PM CST
During his Nov. 19 testimony on Capitol Hill, Ford CEO Alan Mulally said he was "OK where I am" when asked if he would accept a salary of $1.   (AP Photo)
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(Newser) – Though it’s under pressure to trim costs and update its business plan in order to get federal bailout funds, Ford doesn’t like the idea of cutting its CEO’s salary, the Wall Street Journal reports. Alan Mulally made a $2 million salary and $21 million in total compensation last year; asked in testimony last week on Capitol Hill if he’d accept a $1 salary, he replied, “I think I’m OK where I am.”