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Ford CEO Jim Hackett Made Over $17 Million In 2019

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Ford CEO Jim Hackett saw his pay fall in 2019 to the tune of 2.2 percent compared to the previous year. Don’t feel sorry for him, though. He still made $17.36 million for the year. Keep in mind this massive payday came in a year where Ford employees around the world were losing their jobs due to layoffs and factory closures. In 2018, Hackett brought home $17.75 million.

For 2019, Ford CEO Jim Hackett saw his base salary hold steady at $1.8 million, and his stock awards were up 3.5 percent valued at $13.19 million. Hackett’s incentive bonuses fell 32 percent, but he still racked up a cool $1.75 million. It will be hard for many to stomach executives getting bonuses worth that kind of money as employees continue to lose their jobs during the year.

Bill Ford

Hackett earned 157 times more than the median employee compensation at Ford, which is $110,706. That amount was up massively from the $64,316 in median employee compensation in 2018 because of increased pension contributions. Details of Hackett’s pay came from an SEC filing Ford turned in on Friday. That filing also outlined how much money some of the other executives within the company made.

Executive Chairman Bill Ford Jr. brought home $16.76 million in 2019, his base salary for the year was $1.7 million, the same as it was in 2018. Bonuses and stocks made up the remainder of his income. Jim Farley, who is now COO but was in a different position for 2019, made $8.36 million on a base salary of $1.1 million. Farley did receive a discretionary bonus that paid $185,600. Farley’s new role as COO pays $1.4 million in salary with performance-based incentives. He has a bonus target of $1.89 million and an annual stock grant of $5 million. Joe Hinrichs, the former COO who was ousted, earned $11.02 million in total compensation in 2019. Hinrichs received no bonus for 2019.

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Shane is a car guy with a fondness for Mustangs and off-roading.

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Comments

  1. Michael G

    Not only do the top at Ford make terrible decisions, they get paid for it like royalty. What is wrong with this picture? Con men rewarding con men while they destroy an American icon.

    Reply
  2. Chris Blanchard

    Imagine what they might have paid him if F stock hadn’t lost 21% since he became CEO and that is before the corona virus impact (1/6/20).

    Reply
  3. Robert

    Billy Jr. fired Mark Fields because Ford stock lost so much value, with Hackett Ford stock has gone down even further and they reward him for what good decision making. Since Hackett has been at Ford, Ford has become uncompetitive in the marketplace.

    Reply
  4. Larry

    Imagine what that cost everyone who bought a Ford Product, so he could life in luxury.
    It’s my understanding that Hackett suspended executive salaries for 6 months!

    Reply
  5. Roy Chiles

    For Wht??? Sock dropping? Discontinuing American Cars ? Poor Decision making ? Jim Hackett ain’t worth 100K Wht deck is he crawling up under. Clearly it’s all about who U know instead of Wht U know in today’s Automotive World, SAD…

    Reply
  6. Brenda Buiskool

    he needs to step up and give back Back in the bailout days this was done by many in owneship and upper management. would go far for PR long with what Ford is doing..

    Reply
  7. JOHN MAJDALANI

    Rewarding incompetence, just another normal day for this poorly managed company whose stock is trading at $4.53/share, overinvests in the Mustang and F150, and ignores its other products, has no idea how to build and market sedans even if they are built in low wage countries. Its just possible this company’s tock could be trading around $1.50/share by December 2020.

    Reply

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