Not only that, Ford announced in early March that Mulally received US$58.3 million in company stock as a reward for the carmaker’s turnaround. Ford earned US$29.5 billion over the last three years after being in the red from 2006 to 2008 and losing US$30.1 billion in the process.
Regarding Mulally’s compensation, Ford’s spokesman, Jay Cooney commented that the compensation committee felt that the company’s exceptional performance in 2011 merited the awards. Ford exceeded its 2011 targets for global profits before tax and global automotive operating-related cash flow. However, it failed to meet internal targets for cost performance, market share and quality.
Ford’s share price traded as low as $1.01 on 20 Nov 2008 and is hovering around $12 per share now. The company has restored its shareholder dividends for the first quarter of 2012 after suspending the payouts more than five years ago. If you have invested in Ford back in 2008, you would be grinning from ear to ear too.
With interesting new products such as the all-new Ford Fusion/Mondeo (above) and the 1.0 Ecoboost Focus, the American automaker looks set to carry on its momentum into 2012.