04.04.2008
Ford Motor Company Details 2007 Performance and Executive Compensation in Annual Report and ProxyCar News /
DEARBORN, Mich., April 4, 2008 -- Ford Motor Companytoday reiterated the significant progress it is making on its plan totransform and position the company to grow profitably around the world withthe release of its 2007 Annual Report and notice of its 2008 Annual Meetingof Shareholders and Proxy Statement. The Annual Report and Proxy Statement were mailed today to approximately730,000 shareholders and the Proxy Statement was filed with the U.S.Securities and Exchange Commission. The documents outline the company"sperformance in 2007, announce information about the company"s AnnualMeeting to be held on May 8, 2008, and proposals to be presented there, aswell as provide details of compensation for select corporate officers. "The year 2007 marked a major turning point for Ford Motor Company,"Ford Executive Chairman Bill Ford writes in the Annual Report. "We madesignificant progress toward our plan to return to profitability in NorthAmerica and in our total operations in 2009. At the same time, we laid thefoundation for future growth." "To achieve profitable growth, we need to take advantage of everypotential economy of scale and best practice we can find," President andCEO Alan Mulally added. "In the months ahead, you will see more of thebuilding blocks of the new Ford Motor Company start to emerge -- as we worktogether to create a dynamic global enterprise growing profitably aroundthe world." During 2007, Ford made significant progress toward its transformationplan. All Ford automotive operations were profitable outside of NorthAmerica, excluding special items, as was the company"s Financial Servicessector. Specifically, the company achieved a $10 billion year-over-yearimprovement in overall financial performance before taxes, positive totalautomotive operating-related cash flow, significant improvements in vehiclequality, further cost reductions and successful introductions of newproducts and innovative technologies around the world. The improved performance and results also will be discussed duringFord"s Annual Meeting of Shareholders, which will begin at 8:30 a.m.Eastern Time, Thursday, May 8, at the Hotel du Pont, 11th and MarketStreets, Wilmington, Del. In addition to information about the Annual Meeting, the 2008 proxyprovides a detailed review of total 2007 compensation provided, granted toor received by five named executive officers during the year -- based onthe company"s 2007 performance. Details include: -- Alan Mulally, Ford president and chief executive officer, earned $2,000,000 in salary and received incentive bonus awards of $7 million. Total 2007 compensation was $21,670,674, which includes salary, bonuses, the Company-recognized expense for stock options and other stock-based awards, as well as all other compensation. -- Don Leclair, Ford executive vice president and chief financial officer, earned $1,005,633 in salary and received incentive bonus awards of $3 million. His 2007 compensation totaled $11,703,127. -- Mark Fields, Ford executive vice president and president, The Americas, earned $1,255,634 in salary and received incentive bonus awards of $2,850,000. His 2007 compensation totaled $8,389,898. -- Lewis Booth, Ford executive vice president, Ford of Europe and Premier Automotive Group, earned $868,133 in salary and received incentive bonus awards of $2,250,000. His 2007 compensation totaled $10,264,463. -- Mike Bannister, Ford executive vice president and CEO, Ford Motor Credit Company earned $708,700 in salary and received incentive bonus awards of $2,150,000. His 2007 compensation totaled $8,677,747.Ford Motor Company, a global automotive industry leader based inDearborn, Mich., manufactures or distributes automobiles in 200 marketsacross six continents. With about 245,000 employees and about 100 plantsworldwide, the company"s core and affiliated automotive brands includeFord, Jaguar, Land Rover, Lincoln, Mercury, Volvo and Mazda. The companyprovides financial services through Ford Motor Credit Company. For moreinformation regarding Ford"s products, please visit www.ford.com.
Dear users, on our car site you find many interesting automobile news, hot car auto news, road tests. We offer: car dealers, auto dealers, buy a car, used trucks, used auto, buy new car, buy car online, sell car, sell my car, sell used car, auto sale, sell used cars, selling a car and auto, auto loan calculator, used car prices, car reviews, car loan calculator, used car pricin.
|
This past March at the Geneva Motor Show, the Swedish super car company Keonigsegg revealed the NLV Quant electric sedan. Well now it is the exotic Italian coachbuilder Bugatti’s turn, and Ettore’s original brand has done quite an impressive job on the all new Bugatti 16 C Galibier concept that was unveiled this past weekend in Molsheim. According to the automaker the upcoming super car will become "the most exclusive, elegant, and powerful four door automobile in the world."
In addition to the forthcoming Prime Edition, Mercedes will also offer an AMG Sports package for the newly launched E-Class Cabrio. Unlike the Prime Edition, which seems to have an entire catalog of Mercedes models to choose from, the AMG Sports package will only be available for the E500 model.