Friday, Aug 26, 2016
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Automotive

Chrysler chief declined compensation for 2011

DETROIT — Sergio Marchionne declined to take a salary from Chrysler for 2011 despite leading the automaker to its first profitable year since 1997.

Mr. Marchionne didn’t take a salary, bonus, or stock option reward as chief executive officer, president, and chief operating officer of Chrysler Group LLC, the company disclosed in a regulatory filing late Tuesday.

He is paid for his work as CEO of Fiat SpA, the Italian automaker that owns 58.5 percent of Chrysler.

Chrysler didn’t say why Mr. Marchionne decided to forgo compensation for the second consecutive year. It said the company did reimburse him for living expenses.

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