General Motors CEO Mary Barra will earn around $14.4 million in cash and stock bonuses in 2014, the company said on Monday, about 60% more than her predecessor made in 2013. The company previously reported she would bring in about $4.4 million in cash and short-term stock 2014, which was significantly less than the $9 million Dan Akerson made while at the helm.
The details of Barra’s compensation came out about two months earlier than expected due to rumors that suggested Barra was being undercompensated because of her gender. According to the Detroit Free Press, the company said in a statement that the full figures were released to “correct misperceptions created by comparisons that used only a portion of Barra’s overall compensation.” Her total earnings include $1.6 million in salary, $2.8 million in short-term stock, and $10 million in “long-term compensation.” In January, Barra became the first woman to lead a major American auto company.
“As a new CEO, Mary’s total compensation is in line with her peer group and properly weighted so that most is at-risk,” General Motors Chairman Tim Solso said. “The company’s performance will ultimately determine how much she is paid.”