We have criticised executives for not noticing, when it comes time to fix their own compensation, that there are problems out there and that their companies are not doing so well.
A 30% cut in salary recognizes that and Mr. Mulally should be congratulated.
Although, don´t worry, he will still take home a seven figure salary.
Onésimo Alvarez-Moro
See article:
CEO Alan Mulally agrees to take 2009 and 2010 salary cuts after union allows stock contributions to healthcare fund.
Ford Motor Co. Chief Executive Alan Mulally has agreed to take a 30% salary cut for this year and next, the executive chairman Bill Ford said in a memo to employees Tuesday.
The announcement to employees in a memorandum obtained by Reuters came the day after the United Auto Workers agreed to allow Ford to make up to half its contribution to a union-aligned trust for retiree healthcare in company stock.
See full Article.
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