DETROIT (AP) — General Motors CEO Mary Barra’s compensation more than tripled in 2014 to $15.8 million in her tumultuous first year in the automaker’s top job.
Barra and other top executives got only 74 percent of the cash incentives they could have received, because GM fell short of goals set by the board. But her stock awards more than doubled from 2013 when she was senior vice president of for product development and purchasing.
GM reported its 2014 compensation Friday in its proxy filing with the U.S. Securities and Exchange Commission. The company also named a new board member and announced that its annual stockholders meeting will be held on June 9 at GM’s Detroit headquarters.
Barra, 53, became the first woman to lead a major global automaker on Jan. 15. Almost immediately, she was hit with a series of embarrassing safety recalls that led to congressional hearings, a Justice Department investigation and a $35 million fine from U.S. safety regulators. The recalls included 2.6 million small cars with defective ignition switches that caused numerous crashes. So far, the company has agreed to pay compensation in 87 death cases and for 157 injuries.