General Motors CEO Barra's pay dipped slightly to US$22m in 2017

[DETROIT] General Motors Co's top executive, Mary Barra, was paid just under US$22 million in 2017, slightly less than the previous year, according to the automaker's proxy statement released on Friday.

Ms Barra's total compensation package was valued at US$21,958,048, about US$625,000 less than the US$22,582,059 package she received in 2016.

Ms Barra, GM's chairman and chief executive officer, was paid US$28,588,663 in 2015.

Ms Barra's pay package included a salary of US$2.1 million; stock awards worth US$10.74 million; options worth US$3.25 million, and a performance award worth US$4.96 million.

GM said its board of directors last year set stricter performance targets for its top executives, in noting that performance awards generally were lower in 2017.

The automaker on Thursday reported better-than-expected first-quarter earnings, but investors disappointed by the automaker's lower pretax profit sent its shares down more than 2 per cent.

GM shares were down 1 per cent at US$37.87 on Friday afternoon.

Ms Barra remained GM's highest-paid executive. President Dan Ammann last year was paid US$9,258,318, compared with US$10,223,984 in 2016 and US$11,800,077 in 2015.

Chief financial officer Chuck Stevens received US$7,101,039. Executive vice president Mark Reuss, who heads global product development, purchasing and supply chain, was paid US$7,726,508, and executive vice president Alan Batey, who heads North American operations, was paid US$5,975,128.

GM also awarded US$6,888,039 to Karl-Thomas Neumann, former president of GM's European operations, the bulk of which were sold to French automaker PSA Group last year.

The company's annual shareholders meeting is scheduled for June 12 at GM headquarters in Detroit.

There are three outside shareholder proposals: To make the chairman an independent board member; permitting shareholders to act by written consent; and requesting that GM publish a report on the sustainability of its future vehicles. GM management has recommended that shareholders vote against all three proposals.

REUTERS