Boston, MA 02/26/2013 (wallstreetpr) – CEO salaries are hitting the roof and this year General Motors Company (NYSE:GM) has plans to pay its CEO Dan Akerson, $11.1 million. The company’s top 25 executives are slated to get a total of $82 million in pay. In 2011 Akerson received $7.7 million though the target compensation for him had been $9 million and is General Motors Company (NYSE:GM)’s highest paid executive. The U.S Treasury had started scrutinizing and restricting the salaries given to executives of seven companies that had been bailed-out by the Troubled Asset Relief Program that the government handles.
All troubled companies answerable
Today, Bank of America Corp (NYSE:BAC), American International Group, Inc (NYSE:AIG), Citigroup Inc (NYSE:C), Chrysler Financial Corp and Chrysler Group LLC no more need to be subjected to the rulings of the department. A General Motors Company (NYSE:GM) spokesperson Greg Martin would not comment on specifications of the pay proposal put forth by the company but added that General Motors Company (NYSE:GM) will co-operate completely with the House Oversight Committee and provide all the requested information. Company executives pay have come under scrutiny and the Treasury conducts all pay supervision.
CEO pay packages
General Motors Company (NYSE:GM)’s former lending arm is all set to pay their own CEO Michael Carpenter a cool $9.6 million. CEO of Ford Motor Company (NYSE:F) received $29.5 million pay in 2011 as well as a stock reward worth $58.3 million for the turnaround that the company had made. CEO Dieter Zetsche of Daimler AG (PINK: DDAIF) received a total compensation of $10.7 million on 2012 whilst Volkswagen AG (PINK: VLKAY) will be reducing CEO Martin Winterkorn’s pay package by 17 percent.
Shares of General Motors Company (NYSE:GM) went down by 2.88% to close at $26.33
Shares of Ford Motor Company (NYSE:F) went down by 2.08% to close at $12.13
Shares of Daimler AG (PINK:DDAIF) went down by 1.68% to close at $58.10
Shares of American International Group, Inc (NYSE:AIG) were down by 3.62% to close at $37.06
Shares of Bank of America Corp (NYSE:BAC) went down by 3.585 to close at 411.03
Shares of Citigroup Inc (NYSE:C) went down by 3.83% to close at$41.15
Shares of Volkswagen AG (PINK:VLKAY) went down by 5.02% to close at $39.76