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Article: IACOCCA'S $20M IN '86 TOPS U.S. AUTO INDUSTRY FORD BOSS RECEIVES $4.33M; GM CHIEF, $2.82M.(Main)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- April 18, 1987
CopyrightCOPYRIGHT 1987 Albany Times Union. 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: Nunzio Lupo and John Spelich Knight-Ridder
Chrysler Corp. Chairman Lee Iacocca received compensation worth more than $20 million in 1986, making him one of the highest-paid corporate executives in U.S. history and putting him more than $15 million ahead of his nearest auto industry rival.
Iacocca's compensation was boosted to such lofty heights by $9.28 million in stock he received under the terms of his 1983 employment contract with the No. 3 automaker.
It puts him in the ranks of such handsomely paid executives as Texas oil tycoon T. Boone Pickens, the chairman of Mesa Petroleum, who earned $22.8 million in 1984.
Ford Motor ...