New Ford COO Jim Farley to get $2 million raise

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 Chicago Criminal Defense Lawyers 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.