The Globe and Mail reports in its Saturday, May 27, edition that General Motors' rival Ford Motor's former chief executive
officer Mark Fields is
leaving the company with an
estimated $51.1-million in
cash, stock awards and pension
benefits (all figures U.S.). An Associated Press dispatch to The Globe reports that Mr. Fields, 56, retired
earlier this week after three years
as CEO. Ford made record profit during
Mr. Fields's tenure, but its stock price
dropped nearly 40 per cent on
investors' concerns about the
company's future.
Mr. Fields will be eligible for
$22.1-million in stock awards that
are continuing to vest and an
estimated $17.5-million in pension
benefits.
He could earn a $3.6-million
bonus, but not if he is hired by a
competitor.
Mr. Fields has $7.9-million in
vested stock options, but other
stock options currently have no
value because Ford's stock price
has sunk so low.
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