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Ford chief took home nearly $18 million in ‘challenging’ year



His total annual payment included a basic salary of $ 1.8 million and $ 12.7 million in shares, along with about $ 3.2 million in other fees, according to public records published Friday.

Hackett said in a recent call with investors that 2018 was a "busy year" that was "full of headwinds".

undertook to spend $ 11 billion to reshape its business, hoping to increase overseas sales and modernize its fleet of vehicles by focusing more on electric and autonomous driving technology. Competitors including General Motors have announced similar plans.
Ford's restructuring should cost thousands of jobs worldwide. On Friday, the company announced that it will cut about 5,000 jobs in Germany through a "voluntary separation" program and other plans. Ford told CNN Business that jobs in the UK will also be cut, but the number of jobs that will be affected there "has yet to be determined."
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According to the deposit, Hackett's compensation is 276 times larger than the compensation median for other Ford employees.

Ford praised Hackett's leadership in the warehouse, saying he is "equipped to drive the company's commitment to becoming the most trusted company in the world, designing intelligent vehicles for an intelligent world that helps the world people to move more safely, safely and freely. "

Few people on Wall Street doubt that the company needs to shake things up.

Hackett became Ford's CEO in May 2017 due to increasing financial pressures. Ford stocks rose more than 10% in 2018, although they are still down more than 40% compared to five years ago.

Ford Executive Chairman Bill Ford, great-grandson of the founder of the company Henry Ford, also pushed for development of a new generation of electric cars and self-driving.

Bill Ford was the second highest compensated executive at Ford last year with a total outlay of $ 13.8 million.


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