DETROIT (AP) — Former General Motors CEO Dan Akerson's compensation fell 18 percent last year to just over $9 million. The company attributed the decline to the timing of stock awards.
Akerson retired in January. He earned $1.7 million in salary last year, the same as in 2012. But his stock awards fell by almost $2 million to $7.3 million. Spokesman Tom Henderson says Akerson's short-term stock awards were bumped up in 2012 in anticipation of his 2014 retirement. He gave up some long-term stock awards when he retired.
Akerson's replacement, Mary Barra, received just over $5.2 million last year as product development chief, up 12 percent from 2012. GM says she'll get a package this year worth $14.4 million.
The company disclosed the compensation packages Friday in its annual proxy statement.