Marchionne, at a Chrysler transmission plant in Kokomo, Ind., in February 2013, was awarded salary and stock awards really worth $ 307,989 as CEO of Chrysler last yr, the company disclosed Friday.
Photograph credit: BLOOMBERG
March 6, 2014 – 5:47 pm ET
DETROIT (Reuters) — Fiat Chrysler Vehicles Chief Executive Sergio Marchionne was awarded salary and stock awards worth $ 307,989 final 12 months for heading Chrysler Group, according to a filing with U.S. regulators by the automaker on Friday.
Marchionne’;s Chrysler pay is expected to be a fraction of his complete compensation as soon as the Fiat side of the business announces his compensation.
Marchionne’;s compensation from Fiat for 2013 will be announced later this month.
The particulars on his Chrysler shell out were contained in a filing with the U.S. Securities and Exchange Commission.
Marchionne’;s compensation from Chrysler in 2013 fell from the earlier year, which totaled $ one.23 million. In 2011, he declined a salary from the American automaker.
The drop in compensation last 12 months for Marchionne and other prime Chrysler executives is due to the fact 2012 compensation levels integrated functionality incentives accrued over 3 years.
Fiat S.p.A. and Chrysler Group LLC had been merged in January. The newly formed firm is to be traded primarily in New York, as well as in Milan, starting later this year.
Marchionne, 61, was the CEO of both firms ahead of the merger.
In 2012, he was paid in salary and equity awards the equivalent of about 13.2 million euros, or $ 18.3 million at current exchange rates, from Fiat and its affiliates, according to a Fiat organization report.