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.
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.