DETROIT -- New Ford CEO Mark Fields will get a pay package worth more than US$5.25 million this year as he takes over for the retiring Alan Mulally.
He'll also get stock and options that could drive that figure much higher. The company will restore his use of a private jet to travel back and forth from his home near Miami.
Ford revealed a portion of Fields' compensation Wednesday in a filing with the U.S. Securities and Exchange Commission. The Dearborn, Mich., company says it will disclose the total value of Fields' package in its annual proxy statement next year. Fields made US$10.2 million last year as chief operating officer, including stock options and performance-based stock awards, the company said.
-- The Associated Press