By Eric Sylvers 

Carlos Ghosn, chief executive of Renault SA and Nissan Motor Co., is about to add a third big car industry job to his current duties in a move that could put his pay above rivals at the Detroit Three car makers.

There is no word yet what Mr. Ghosn will earn for his expected job as chairman of Mitsubishi Motors Corp., a position he will assume when Nissan completes the acquisition of a one-third stake in its Japanese rival later this year. Depending on Mitsubishi's generosity, Mr. Ghosn's total compensation might top the pay of U.S. auto CEOs in Detroit.

In 2015, Mr. Ghosn received $18 million in combined compensation for his jobs at Renault and Nissan, which are separate businesses and linked through an alliance that includes cross shareholdings.

Mr. Ghosn's $8 million 2015 pay package from Renault, which is partially owned by the French government, unleashed a shareholder revolt earlier this year as its investors stepped up their pushback against executive pay. A majority of shareholders voted against the package, but the board chose to approve it anyway.

Several months later the company said it would slash Mr. Ghosn 2016 pay package compared with last year's level and the executive agreed to pay EUR1 million ($1.1 million) a year to Renault's foundation to help finance the education of unskilled youth and help schools.

Nissan paid Mr. Ghosn about $10 million for the year ended this March. While that is below what Mr. Ghosn's counterparts at big U.S. car companies make most years, it puts him among the best-paid executives in Japan where most top managers, including Toyota Motor Corp. President Akio Toyoda, make the equivalent of a few million dollars a year or less.

In 2015, General Motors Co. CEO Mary Barra received compensation of $28.6 million, including shares that haven't yet vested. The company paid her about $16 million in 2014. Mark Fields, Ford Motor Co.'s CEO, got almost $19 million in total compensation in 2015, broadly in line with his 2014 pay.

Meanwhile, Fiat Chrysler Automobiles NV CEO Sergio Marchionne received a relatively modest $11 million in 2015, though that came after a blockbuster 2014 for which the company said it would dole out total compensation of $72 million that includes shares and a bonus to be paid when he steps down.

--Sean McLain contributed to this article.

Write to Eric Sylvers at eric.sylvers@wsj.com

 

(END) Dow Jones Newswires

October 20, 2016 02:48 ET (06:48 GMT)

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