GM CEO Barra's pay package worth $14.4M this year

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Associated Press

Posted on February 10, 2014 at 2:01 PM

Updated Monday, Feb 10 at 2:02 PM

DETROIT (AP) — General Motors says new CEO Mary Barra will get a pay package worth $14.4 million this year.

The company says she'll make more than Dan Akerson, who she replaced last month.

Barra is the first woman CEO of a major global automaker. She'll get $1.6 million in salary, $2.8 million in short-term incentives and long-term stock compensation worth $10 million. The long-term amount is part of a new incentive plan that has to be voted on by shareholders in June.

Chairman Tim Solso says in a statement Monday that Barra's package is line with her peer group and weighted so that most of it is based on company performance.

GM says it released the amounts to counter stories that said Barra would be paid less than Akerson.

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