FILE PHOTO: Ford President and CEO Jim Hackett speaks at a news conference in New York City, New York, U.S., July 12, 2019. REUTERS/Mike Segar
(Reuters) – Ford Motor Co (F.N) said on Friday Chief Executive Officer Jim Hackett’s total compensation fell to $17.4 million in 2019 from $17.8 million in 2018.
The ratio of Hackett’s annual compensation to the median of the annual compensation of all employees was 157 to 1, Ford said. ford.to/2wQDYKN
Executive Chairman William Ford received a total salary of $16.8 million in 2019, up from $13.8 million in 2018.
Government orders for social distancing and businesses to shut in the face of the coronavirus pandemic has stalled demand across the auto industry and sent companies scrambling to cut costs and beef up liquidity.
The No. 2 U.S. automaker on Thursday posted a 12.5% fall in U.S. auto sales for the first quarter.
Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel