Outgoig Ford CEO Mark Fields will receive a sizeable portion of a promised bonus, all the promised stock awards for 2017 and temporary use of company aircraft, according to an exit package outlined by the auto maker. His stock awards in those years equaled $14.3 million and $12.1 million, respectively. Ford, in a filing, said the company’s new chief, Jim Hackett, will be paid a $1.8 million salary and $8 million in stock awards and bonus. Mr. Fields was paid a nonequity incentive bonus in excess of $2.75 million over each of the past three years. Mr. Hackett replaces Mr. Fields, a 28-year Ford veteran, amid a slumping stock price and concerns about company strategy.

Source: Wall Street Journal May 24, 2017 18:56 UTC