Ford CEO & Board Awarded For Non-Performance
March 1, 2007 · Posted in Uncategorized
It's a sour day @ FoMoCo. Senior executives of the ford motor company are set to pay themselves "cash payments" despite scrapping the controversial bonus program that would've actually benefited a much larger segment of management.
Ford CEO Alan Mulally is set to receive an additional $1 million in stock options bringing his total stock package to $6 million.
The senior board's self-congratulatory pat-on-the-back for having idly watched America's second largest carmaker lose $12.7 Billion last year comes at exactly the wrong time when thousands of Ford employees are being shown the door in new rounds of job cuts.
[Source: The Detroit News]
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