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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

(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.”

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)

Ford CEO Alan Mulally arrives to testify on Capitol Hill on Nov. 19, 2008, in a new Ford Fusion Hybrid. (AP Photo)

Ford Motor Co. chairman Bill Ford, left, and Alan Mulally, president and CEO, are seen at the Dearborn Truck Assembly in Dearborn, Mich., Oct. 30, 2008. (AP Photo)

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Ford Doesn't Want to Cut CEO's Pay

Mulally rebuffed $1 salary suggestion, 'OK' making $2M

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Ford Doesn't Want to Cut CEO's Pay

Mulally rebuffed $1 salary suggestion, 'OK' making $2M

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OTHER STORIES ON OUR RADAR

executive compensation • Ford • Alan Mulally • auto industry • bailout

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Automakers Pushing 'Connected' Cars

Gizmos proliferate amid concerns on distracted driving

Ford Recalls 129K Cars: Wheels Might Fall Off

2010-11 Ford Fusions and Mercury Milans affected

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

End of an Era: Last Crown Vic

Final car rolls off Assembly line after 32 years

Ford, Toyota Join Forces on Hybrid System

Partnership prompted by airport-terminal chat

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?