GM seeks approval to pay CEO $13.65m: CNBC
Published on Feb 26, 2013 11:18 AM
BANGALORE (REUTERS) - General Motors wants to pay its chief executive Dan Akerson US$11.1 million (S$13.65 million) this year, CNBC reported, citing related documents.
If the US government approve the plan, Mr Akerson's annual compensation would increase more than 20 per cent compared to last year, the report said.
Compensation of GM executives is governed by a special paymaster from the federal government as part of provisions put in place after GM's US-funded bankruptcy restructuring in 2009.
No determination has yet been made for 2013 compensation, a US Treasury Department official told CNBC.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here