Facing Criticism, GM Says First Female CEO Is Not Getting Paid Less Than Male Predecessor

Your News Companion by Ben Mathis-Lilley
Feb. 10 2014 7:49 PM

Facing Criticism, GM Says First Female CEO Is Not Getting Paid Less Than Male Predecessor

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Mary Barra, a new CEO of U.S. carmaker General Motors addresses the media on January 27, 2014.

Photo by DANIEL ROLAND/AFP/Getty Images

Facing a backlash over what General Motors calls “misconceptions” over the pay of the automaker’s new CEO, Mary Barra, the company released more details of her compensation package on Monday. GM was facing blowback for media reports that calculated the company was paying Barra, the first female head of a major automaker, far less than her male predecessor. However, including all of Barra’s various stock options, the Associated Press reports, she will earn $14.4 million this year—almost 60 percent more than her predecessor, Daniel Akerson.

Barra's pay for this year, according to USA Today, breaks down like this: $1.6 million in salary, $2.8 million in short-term incentives, and $10 million in long-term compensation. USA Today also notes “CEOs get a large portion of their compensation in awards tied to stock performance, to ensure their interests and stockholders' are the same.” Akerson, Barra’s male predecessor, made $1.7 in salary and $7.3 million in stock last year, according to Bloomberg.

Elliot Hannon is a writer in Washington, D.C. Follow him on Twitter.

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