DETROIT — Jim Farley could get as a great deal as a 32 per cent increase when he results in being Ford Motor Co. COO on March one, according to a new filing with the Securities and Exchange Fee.
Ford, in the filing, reported Farley’s full payment will increase to $8.29 million, up approximately $two million from his present-day payment as president of new organization, technologies and technique at the automaker.
The payment payouts mirror foundation income, inventory grants and yearly reward targets.
The fifty seven-yr-old’s foundation income will increase to $one.four million from $one.one million. His once-a-year reward concentrate on will increase to $one.89 million from $one.375 million and his once-a-year inventory grant will increase to $five million from $3.eighty two million, Ford disclosed in the filing.
The payment committee on Ford’s board of directors accredited the adjustments past week, according to the filing.
Farley acquired $five.86 million in 2018, according to Ford’s most recent proxy filing. Joe Hinrichs, Ford’s president of automotive who will retire helpful March one, received $five.eighty one million.