April 21, 2011 – DETROIT (Reuters) - General Motors Co <GM.N> Chairman and Chief Executive Daniel Akerson received $2.53 million in total compensation in 2010.
Akerson took over as CEO last September and as chairman of the GM board at the start of this year.
GM's executive pay is restricted by guidelines set by the U.S. government as a result of GM accepting a $50 billion financing package that included bankruptcy and saved the company in 2009.
The 62-year-old Akerson took over for Ed Whitacre who resigned suddenly on the cusp of the company's IPO. Akerson served as CEO for four months in 2010.
Akerson's pay will be the same in 2011 as if he had served a full year as CEO in 2010. A GM spokesman said his 2011 compensation will be around $9 million, the result of $1.7 million in salary and about $7.3 million in stock awards.
Ford Motor Co <F.N> CEO Alan Mulally's 2010 compensation was about $26.5 million, an increase of 48 percent over the previous year.
Akerson is a graduate of the U.S. Naval Academy and former Carlyle Group <CYL.UL> managing director. He became the automaker's fourth CEO within 18 months when he took over for Whitacre.
(Reporting by Bernie Woodall, editing by Matthew Lewis)