GM's Akerson Gets Big Pay Cut

Dan Akerson, CEO of General Motors, took a bankrupt General Motors to multibillion-dollar profitability. But that won’t be enough to earn him a pay hike this year, according to the U.S. Treasury Department, which has the final say on compensation for the maker’s top 25 executives.

Akerson will take home about $9 million this year, including $1.7 million in salary and another $7.3 million in various forms of stock compensation. That is, of course, a tad less than the $18.6 million that Goldman Sachs' Lloyd Blankfein made in 2010, though the company lost money, but that's another story.

It is also less than Ford Motor Co. CEO Alan Mulally, who got a $29.5 million pay package, the maker announced last week, on top of more than $57 million in long-term stock compensation.

Read the whole story at Detroit Bureau »
Tags: automotive
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