Marchionne awarded $307,989 as Chrysler CEO in 2013
Marchionne, at a Chrysler transmission plant in Kokomo, Ind., in February 2013, was awarded salary and stock awards worth $307,989 as CEO of Chrysler last year, the company disclosed Friday.
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DETROIT (Reuters) -- Fiat Chrysler Automobiles Chief Executive Sergio Marchionne was awarded salary and stock awards worth $307,989 last year for heading Chrysler Group, according to a filing with U.S. regulators by the automaker on Friday.
Marchionne's Chrysler pay is expected to be a fraction of his total compensation once the Fiat side of the business announces his compensation.
Marchionne's compensation from Fiat for 2013 will be announced later this month.
The details on his Chrysler pay were contained in a filing with the U.S. Securities and Exchange Commission.
Marchionne's compensation from Chrysler in 2013 fell from the previous year, which totaled $1.23 million. In 2011, he declined a salary from the American automaker.
The drop in compensation last year for Marchionne and other top Chrysler executives is because 2012 compensation levels included performance incentives accrued over three years.
Fiat S.p.A. and Chrysler Group LLC were merged in January. The newly formed company is to be traded primarily in New York, as well as in Milan, beginning later this year.
Marchionne, 61, was the CEO of both companies before the merger.
In 2012, he was paid in salary and equity awards the equivalent of about 13.2 million euros, or $18.3 million at current exchange rates, from Fiat and its affiliates, according to a Fiat company report.Contact Automotive News