Ford Motor Co. CEO Jim Farley was No. 14 with total compensation of $18.3 million in 2022, 84 percent more than last year. His base salary of $1.7 million was unchanged, but stock awards more than tripled to $10.6 million.
Stellantis CEO Carlos Tavares, whose company-reported compensation was worth about $26 million, is not included in the study because the automaker is based overseas.
The study looked at the CEOs of 49 automakers, suppliers and public retailers and calculated total compensation as the sum of base salary, gains from stock option exercise, gains from the vesting of stock awards, cash bonus payouts and other forms of compensation.
Equilar’s survey includes the realized value of equity awards, which is why its numbers can differ from the total compensation reported in regulatory filings.
CEO compensation among the Detroit 3 is a point of contention in their contract negotiations with the UAW. Union President Shawn Fain has used executive compensation figures to justify the UAW’s demands for significantly higher pay and benefits.
Four Ford and four GM executives below the CEOs also were included in the survey. Ford Executive Chair Bill Ford was the highest-paid non-CEO listed, at $17.7 million, followed by GM President Mark Reuss, at $12.8 million. Ford CFO John Lawler received nearly $7.2 million.
