5860 Manley, Barra got top pay from Detroit 3 in 2022

Manley, Barra got top pay from Detroit 3 in 2022

Mike Manley was the highest-paid Detroit 3 executive in 2022, even though he no longer worked for an automaker.

Manley, who has been CEO of AutoNation since November 2021, earned $56.2 million (€51.2 million) from Stellantis last year. The payment stemmed from an agreement with Fiat Chrysler Automobiles prior to the January 2021 merger with PSA Group that formed Stellantis, according to a U.S. Securities and Exchange Commission filing from February.

Manley was Fiat Chrysler Automobiles’ CEO before the merger and stayed on as head of Americas for Stellantis until succeeding Mike Jackson at AutoNation.

For his work last year at AutoNation, Manley earned $13.5 million in total compensation, including salary, bonuses, incentives and stock awards, according to AutoNation’s proxy statement released March 9. That brought Manley’s total compensation from the two companies to nearly $70 million.

General Motors’ CEO Mary Barra ranked second with a pay package worth nearly $29 million in 2022, according to an SEC filing on Friday. Barra earned 0.5 percent less than in 2021 but was the highest-paid Detroit 3 CEO for an eighth consecutive year.

Stellantis’ CEO Carlos Tavares was third with $25.6 million. Shareholders approved Tavares’ compensation package in April after a majority voted against the company’s executive pay plan in 2022.

Ford Motor Co. executives accounted for four of the top 10. CEO Jim Farley’s compensation declined 8 percent to $21 million, putting him in fourth place, while Executive Chair Bill Ford’s pay was down 7 percent to $17.3 million, for fifth. Doug Field, Ford’s chief advanced product development and technology officer, was next with $15 million.

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GM President Mark Reuss, with $14.4 million, GM CFO Paul Jacobson, with $10.2 million, Ford CFO John Lawler, with $8.9 million, and GM North America President Steve Carlisle, with $8.8 million, rounded out the top 10.

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