Ford's ex-CEO leaves company with US$51.1 million

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Thread: Ford's ex-CEO leaves company with US$51.1 million

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    Ford's ex-CEO leaves company with US$51.1 million

    http://www.ctvnews.ca/business/ford-...lion-1.3430662

    The Associated Press
    Published Friday, May 26, 2017 11:50AM EDT
    Last Updated Friday, May 26, 2017 1:51PM EDT


    DETROIT -- Ford's former CEO Mark Fields is leaving the company with an estimated $51.1 million in cash, stock awards and pension benefits.

    Fields, 56, retired earlier this week after three years as CEO. Ford made record profits during his tenure but its stock price dropped nearly 40 per cent on investors' concerns about the company's future.

    Executive compensation tracking firm Equilar calculated Fields' compensation for The Associated Press.

    Fields will be eligible for $22.1 million in stock awards that are continuing to vest and an estimated $17.5 million in pension benefits.

    He could earn a $3.6 million bonus, but not if he's hired by a competitor.

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Clearly I have never failed appropriately well.

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    I wonder how much that guy who ran McDonalds into the ground got, because they ran him the fvck out, too.

    'Merica!

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    I'm sure the stock holders are happy to gift him that amount.....make the CEO's great again!

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Being a CEO is definitely a no-lose situation as long as nothing illegal is done. I respect all of the work and sacrifice that being CEO entails, but these payouts when they are fired is ridiculous.

    I did the math, a $50 million payout is $.013 per share. (market cap of $43.520B divided by the closing price of $10.93 gives us a little shy of 4B shares outstanding).

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Quote Originally Posted by InCogKneeToe View Post
    http://www.ctvnews.ca/business/ford-...lion-1.3430662


    DETROIT -- Ford's former CEO Mark Fields is leaving the company with an estimated $51.1 million in cash, stock awards and pension benefits.

    Fields will be eligible for $22.1 million in stock awards that are continuing to vest and an estimated $17.5 million in pension benefits.

    He could earn a $3.6 million bonus, but not if he's hired by a competitor.
    Poor ole Mark Fields how will he cope and save face with the neighbours, he will have downsize his house move into a Detroit ghetto send the kids to a public skool downsize to a second hand Fiesta and cut back on the luxuries like hair dye and join Rick Wagoner and 25,000 GM employees (17% of GM's U.S. workforce) that went back in 2008.

    Poor ole Rick Wagoner only got $10 million: $1.65 million in benefits per year for his first five years of retirement, $74,030 per year pension for the rest of his life, and a $2.6 million life insurance policy that can be cashed out at any time. Wagons CV will have he helped to destroy Hummer, Pontiac, Oldsmobile, Saturn all got sent to the great big scrapheap in the sky, GM managed to offload Saab who never recovered from the stigma of being a rebadged Opel, they are a gonna as well, GM racked up $80 billions of debts.

    Big Al is the only one that done well for himself, Mullally is retired collecting his Boeing/Ford pensions and still earns a little bit on the side at Google to help pay for the Golf club fees and membership. Big Al had accumulated 25.7 million combined Ford shares and stock options, worth about $300 million retirement nest egg, During his tenure at Ford, Mulally received a total base salary of $13.5 million, and cash bonuses of $30.8 million. That gave him a total of $44.2 million in cash through the end of last year. Ford had already lost a great asset Hertz where it could fleet dump a million Ford Focus's globally every year, Ford's dead wood at the time Jaguar/Land Rover went along with Aston Martin & Volvo and finished off Mercury were sent to the scrapheap in sky. Mullally was not popular absolutely slashed pay in the US but at least it saved a lot of jobs in the long term sometimes you have to be cruel to be kind for the long term good, but the money those at the top were rewarding themselves certainly stinks a lot, l can see why Trump got elected and l am not a political person hate politics getting into anything political.

    Mary Barra is a tough cookie like Mullally the only GM CEO who was brutally honesty said l don't want any more 'crappy cars' she then spent most of her first year being dragged through the courts by "crappy cars" defending the Chevrolet Cobalts and Pontiac G5 FWD crap boxes, GM lost billions all for a replacement part that would have cost 57 cents to replace rather than the tried and tested old GM way where it gets hidden swept under the carpet stick the head in the sand and Ssshush hope nobody notice the problem attitude that prevailed at old GM at the time, Barra seems to be cutting out the loss making cancer thats haemorrhaging billions of dollars every year like Opel Group it does not make her popular but it does not drag the rest of the company down with it every year that nobody else had the guts to tackle at GM in the last few decades.

    At the end of the day it's all about product without a good one you are gonna disappear if its right it will make you billions there is certainly no money to be made from small boring bland FWD cars sold to Avis/Hertz in big batches at a huge loss, l alway thought that Opel group should have gone more up market start attacking quality RWD BMW & RWD Mercedes Benz in Europe by offering a few "fuel efficient" fun to drive quality RWD cars at the top end of its range. But a fun to drive "fuel efficient" RWD seems to have always been swear words at Opel, "billion dollar losses" in the only words they have in their rigid design vocabulary. Sad to say both BMW & Mercedes are now moving down into the middle ground Golf/Astra/Focus territory with luxury FWD drive cars that are priced a small fraction above the cars sold there, all l can see is a bloodbath for both Ford & Opel in Europe, but BMW & Mercedes Benz will also start to lose a lot of money as the 3 & 5 Series buyers downsize to cheaper bottom of the market BMW status symbol badge on the front of the car, others who buy at the RWD BMW top end of the brand will go elsewhere as they won't want have to share their showrooms with the masses of 1 Series FWD buying plebs, which could in the end be BMW & Mercedes down fall as a lot of the high end model profits will disappear.

    Ford of Europe use to make huge profits in the early 70's with a RWD only line-up were never any trouble to its parent company in the US, they to like Opel have been making huge billion dollar losses but have returned to making a small profit, and l have got to say l really like the Ford Ranger Europe's No1 best selling pick-up truck that recently dethroned the Toyota Hilux from the top spot, and the Ford Mustang instantly become the No1 best selling sports coupe in Europe despite only be allocated a limited supply batch Detroit an instant No1 hit straight out the Ford shed, you just can't buy anything like this from Opel. If you offer the right products that l think the Europeans will buy it, nobody has shunned an American designed iPhone in Europe or Japan they love it, to be brutally honest both GM and Ford car designs in in Europe have become to complacent stagnant, with every new refresh over the last few decades Opel has produced cars that look just as dull bland and almost exactly the same as the last model they just replaced they have become very stale designs that have lost GM $25 billions in the last two decades.

    I don't dislike personally dislike Opel, nobody would have been more happy to see them send back GM a nice tidy profit back every year, but l just would not buy anything in the whole Opel range they have on offer they just don't appeal to me in anyway what-so ever l am not being nasty l absolutely love GM, Ford & Mopar, you have got to have at least one car that offers something other than total dulldom no wonder Opel can't ever make a dime to send back to Detroit.

    Seems to be to much reward for a lotta failure at the top, save a few dimes on Mexican labor then the unemployed American can't afford to buy your products in the US has to be supported by the US taxpayer, in a race to the bottom everything ends up the LCD being made in China long term.
    Last edited by Oldsmobile stopped; 05-27-2017 at 05:09 AM.
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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Man...that is a large sum of money

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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Quote Originally Posted by asrapid1 View Post
    Man...that is a large sum of money
    Not as much as the $588 millions GM wasted on Chevy sponsoring Manchester United, just as the crap FWD Daewoo South Korean made Chevys packed their bags left Europe went back to South Korea to give Opel a better chance of selling something in a oversupplied Europe so the story went.

    Holden will now get this South Korean made FWD garbage that nobody will wanted in Europe, rebadged Vauxhall will be to expensive to buy/export that will fail, future Holdens will be sold in a very small quantity at a huge loss, and be only a matter of time before GM pulls the plug on Holden Australia.
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    Re: Ford's ex-CEO leaves company with US$51.1 million

    Quote Originally Posted by Oldsmobile stopped View Post
    Not as much as the $588 millions GM wasted on Chevy sponsoring Manchester United, just as Chevy left packed their bags left Europe.
    And I wonder what that guy got as an exit package when he was fired for the Manchester United deal. That was the wonder-guy that came over from Hyundai, correct?

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