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Article: COMPANIES SEEK ALTERNATIVES TO STOCK OPTIONS; Auto CEOs' pay slips in 2003; Drop runs counter to what S&P 500 executives received.(News)
- Article from:
- Automotive News
- Article date:
- May 31, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Julie Armstrong
When it comes to executive compensation, automotive chief executives are falling behind their peers.
Despite the best efforts of Richard E. Dauch and Robert Rossiter, the median compensation of automotive CEOs slipped to $2.4 million last year, down 6.2 percent.
By comparison, the median compensation of CEOs of S&P 500 companies totaled $4.6 million, up 27.2 percent, according to The Corporate Library, a corporate governance consulting firm in Portland, Maine.
Automotive News' annual survey of the 35 biggest publicly held U.S. automakers, suppliers and dealership groups measured salary, bonuses, cashed-in stock ...