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GM CEO’s pay could hit $14.4 million

General Motors Co. CEO Mary Barra may receive total compensation this year of $14.4 million, $10 million more than previously disclosed.

By Tim Higgins | Updated on February 11, 2014
General Motors CEO Mary Barra. (AP Photo/Carlos Osorio)
Feb. 11 (Bloomberg) — General Motors Co. Chief Executive Officer Mary Barra, who started the job last month, may receive total compensation this year of $14.4 million, $10 million more than the largest U.S. automaker previously disclosed.   Barra, who became the first female CEO of a global carmaker Jan. 15, may receive $10 million in long-term compensation as part of her package, the Detroit-based company said yesterday in a statement. That portion is subject to shareholder approval at GM’s annual meeting in June and the final amount depends on the company’s performance, GM said.

“The company released the full figures ahead of its proxy filing in April to correct misperceptions created by comparisons that used only a portion of Barra’s overall compensation,” GM said in the e-mailed statement.

GM in January said Barra, 52, would earn $1.6 million in salary and $2.8 million as part of the company’s short-term incentive plan. While the automaker said at the time that she was likely to receive additional compensation as part of the new long-term incentive plan, it was criticized as paying her a fraction of what her predecessor received.

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