General Motor CEO’s pay rose by 9.4% in 2020
Mary Barra, CEO of General Motors, received a compensation package worth $23.7 million in 2020, which is 9.4% more than the previous year, according to the company’s proxy statement on Friday.
Barra’s base salary dropped from $2.1 million in 2019, while performance awards went up by 38% and stock awards and options were up 7%.
Her pay package includes a salary of $20 million, options worth $3.75 million, stock awards worth $13.1 million, and performance awards of $3.78 million.
GM’s share price ended the 2020 year at $41.84, which is 13% higher than the previous year. As of Thursday, its share is $56.84 and market cap of $81 billion.
The company has suspended its dividend and has made no comment on whether or when it will be reinstated.
Barra had announced a year ago that GM would boost its spending on electronic and automated vehicles to more than $27 billion through 2025. It also plans to launch 30 Electronic Vehicles – including 20 in the United States.
