Post Number: 705
|Posted on Thursday, March 01, 2007 - 12:20 pm: || |
A step in right direction, but still too high IMO for a money losing operation.
From today's Auto Beat Daily:
DCX EXECUTIVE PAY FALLS 40%. DaimlerChrysler AG
paid CEO Dieter Zetsche and Chrysler Corp CEO Tom
LaSorda $6.7 million and $3.2 million, respectively, for their
work in 2006.
Overall cash compensation for the company’s management
board for 2006 declined to $27 million from $46
million the year before.
That group also received 276,000 in phantom shares,
which mimic common stock, vs. 455,000 shares valued the
year before. Zetsche and LaSorda, the company’s two
highest-paid executives, received 59,600 and 33,000 phantom
This is the first time DCX has disclosed compensation
for individual executives.