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DETROIT – It was an off year in 2023 compensation-wise for General Motors CEO Mary Barra, who saw her total take dip four percent from 2022 to only $27,847,405 million. The company failed to hit shareholder value targets to which her compensation is tied.
Barra’s counterparts at the other two automakers in Detroit also enjoyed lucrative employment last year. Stellantis CEO Carlos Tavares saw his compensation in 2023 rise to $39..5 million. Ford CEO Jim Farley’s compensation rose to nearly $26.5 million.
Between them the three auto execs took in $93.8 million.
Barra’s income was made public on Wednesday in a report filed with the Securities and Exchange Commission. GM did overperform in hitting such targets as revenue, cash flow, pretax profits and quality in 2023, according to a “Detroit Free Press” story.
The ratio of Barra’s compensation when compared to the median of all GM employees’ compensation was 303-to-1. The median compensation of all GM employees in 2023 was $91,778, an increase from $80,034 in 2022.
(Photos and logo courtesy of General Motors)
