Pay for Nissan Boss Might Top Detroit CEOs Will Nissan Boss Top Automobile Pay List? -- WSJ
October 20 2016 - 3:03AM
Dow Jones News
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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