Fritz Henderson - GM CEO gets a 25 percent salary cut

Posted on Sunday, 25 October 2009 , 06:10:01 byEmil

Filed under executivescutmoneyfritz-hendersongmceosalaryobamaGMAmerican

Fritz Henderson - GM CEO gets a 25 percent salary cut

Fritz Henderson - GM’s CEO will have his salary cut with 25 % as a part of pay reduction instituted by Obama for the 175 executives on top, at 7 firms that got important federal bailout capital. The annual salary of will fall down to 950,000 Dollars yearly.

The American Treasury didn't identify the top executives at each firm but a reliable source said Fritz is on top, the highly paid at GM, said Automotive News.

Fritz, GM's COO until past year, gets now 4.2 million Dollars in stock salary plus restricted stock long-term. Before the pay modifications, the yearly salary of Henderson was 1.3 million Dollars.

Rick Wagoner - ex GM CEO got 5.5 million Dollars last year, including a 2.1 million Dollars salary. So, he made 14.1 million Dollars in 2007.