Ford CEO Mark Fields Could Walk Away With $57M

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Ford CEO Mark Fields, who agreed this month to resign from his post effective June 1st, could come away with compensation worth $57.5 million, Bloomberg reports.

The largest portion of this sum will come from unvested stock awards valued at $29.4 million as of last Wednesday’s close. An additional $17.5 million in retirement benefits, $8.1 million in stock options, and an incentive bonus estimated at about $2.1 million rounds out the rest of the CEO’s compensation. In addition, Fields will retain reasonable use of Ford’s corporate jet until August 1st.

Mark Fields’ compensation for 2016 stood at $22.1 million – up 19 percent from the year before.

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The Ford CEO was asked to resign amid frustration from the board and shareholders over Ford Motor Company’s declining share value. Mark Fields succeeded former CEO Alan Mulally in mid-2014. Before assuming that role, he led Mazda Motor Corporation while it was owned by Ford, headed up Ford’s Premier Automotive Group, and ascended to Chief Operating Officer in late-2012.

Mark Fields’ successor, former Steelcase CEO Jim Hackett, will receive compensation worth $13.4 million, Bloomberg reports. That includes a $1.8-million base salary, restricted stock grants worth $7 million and $1 million, and an annual incentive plan target of up to $3.6 million.

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Written by Aaron Brzozowski

Aaron Brzozowski is a writer and motoring enthusiast from Detroit with an affinity for '80s German steel. He is not active on the Twitter these days, but you may send him a courier pigeon.

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