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CEO Alan Mulally's 2006 Ford salary: $666,667

CEO Alan Mulally's 2006 Ford salary: $666,667

Alan Mulally, who succeeded Bill Ford last year as chief executive officer of Ford Motor Co., received $666,667 (euro498,517) in salary during 2006, according to a federal regulatory filing made Thursday by the automaker.
The figure for Mulally, who took over as CEO in September and also is the Dearborn, Michigan-based company's president, was prorated based on the $2 million (euro1.5 million) annual salary that the company agreed to pay him, according to Ford's proxy statement filed with the Securities and Exchange Commission.
Mulally also received a bonus of $18.5 million (euro13.8 million) that consisted of a $7.5 million (euro5.6 million) hiring bonus and $11 million (euro8.2 million) to offset performance and stock option awards that he forfeited when he left his previous employer, Boeing Co.
He got other compensation totaling $334,433 (euro250,081), which included $172,974 (euro129,346) for required use of corporate aircraft and $55,469 (euro41,478) for relocation costs and temporary housing.
Ford also granted Mulally a variety of stock options.
Bill Ford, the company's executive chairman and great-grandson of company founder Henry Ford, served as CEO from Jan. 1, 2006 until Mulally joined the company on Sept. 1. Bill Ford received no cash salary or bonus in 2006 pursuant to his May 2005 compensation arrangement to forego any new compensation until the company's automotive sector achieves sustainable profitability.
Jim Padilla, the automaker's former president and chief operating officer who retired on July 1, earned $750,133 (euro560,931) in salary.
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