Marchionne’s shell out as Fiat CEO falls to $5M

Auto Show Marchionne

Sergio Marchionne will be buying fewer of his iconic sweaters, as his 2013 pay out from Fiat took a dip from $ 6.24 million to an even $ 5 million. Marchionne, who was also CEO of Chrysler, manufactured $ 307,989 thanks to some stocks and positive aspects from the American firm, even though he did not consider a salary. Of that $ 5 million paid by Fiat, $ 3.19 million came from Marchionne’;s fixed salary while the remaining $ 1.8 million was paid for hitting unspecified efficiency targets.

The information comes from Fiat’;s compensation reports, which also showed that the 61-year-previous, who already owned 3 million shares in Fiat at the finish of 2013, was ready to obtain an additional 2.3 million shares through a stock incentive system. According to Automotive Information Europe, the extra shares would be worth about $ 25 million at today’;s costs, though so far, Marchionne has declined to declare the additional shares.

According to ANE, Fiat reported a 2013 trading revenue of $ 4.7 billion.

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