Former Lear CEO tops list of highest-paid execs in the auto industry
Matthew Simoncini, who retired after guiding the automotive seat supplier Lear Corp to record sales and earnings, was the highest-paid CEO among public auto companies in the United States last year with US$ 32.3 million, according to a compensation study by Automotive News (subscription required) and Equilar, a provider of board intelligence solutions.
The second place went to Mary Barra, CEO of General Motors, who received a total compensation of US$ 25.8 million, considering all benefits, including salary, stocks and bonds. Said remuneration more than doubled the US$ 11.9 million that Barra received in 2016.
The list includes Troy Clarke, former president of GM Mexico and current CEO of Navistar International, who earned US$ 4.65 million last year, a substantial rise compared to the US$ 1.65 million he got paid in 2016.
The study analyzed data from 39 companies, including car manufacturers, suppliers and public retailers. The average compensation in 2017 for the 39 CEOs was US$ 5.5 million, 19% more than the previous year.
The study calculates benefits that executives receive when the shares and options are granted or exercised, so the figures may differ from the executive compensation reports of each company, said Charlie Pontrelli, research analyst at Equilar, to Automotive News.