General Motors CEO Mary Barra has worked at GM since she was 18, and got an engineering degree from what was then known as General Motors Institute.
General Motors Co. says new CEO Mary Barra will get a base salary of $1.6 million per year as she takes over the global automaker.
GM said in a filing on Friday that Barra will also be eligible for $2.8 million in short-term incentives. GM has a long-term incentive plan as well that provides the bulk of the pay for its CEOs.
The Detroit company’s last CEO, Dan Akerson, had a total 2012 salary of more than $11 million, including a base salary of $1.7 million. GM says Akerson will continue to be paid $1.7 million per year as a GM consultant.
Barra, who started as CEO on Wednesday, has worked at GM since she was 18, and got an engineering degree from what was then known as General Motors Institute.