That's still significantly less than ex-boss Mark Fields' incomes.

It’s not a bad job to be the CEO of Ford these days, as the company’s new head honcho, Jim Hackett, earned no less than $16.73 million last year, a filling with the Securities and Exchange Commission, brought to our attention by The Detroit Times, reveals. This shouldn’t come as a surprise, as Hackett’s predecessor, Mark Fields who was fired in May last year, was paid $22,102,498 in 2016. What is quite surprising however is the fact that Fields earned roughly $21 million in 2017, despite spending most of the year without a position at the company.

Part of Hackett’s compensation includes $1 in signing bonus and $14.4 million in stock awards and other incentives, after Ford met performance goals in quality, revenue and operating margin.

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All Ford top executives received new or expanded roles last year and this affected, mostly positively, their incomes. Bill Ford, executive chairman, made $15.63 million last year, up from the $13.8 in total compensation he received in 2016. Joe Hinrichs, executive vice president and president of global operations, earned $12.12 million in 2017, almost double than what he got paid in 2016. Much of Hinrichs’ pay rise comes from stock awards given in 2017.

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Jim Farley, executive vice president and president of global markets, earned more than double the money he received in 2016 - $13.47 million versus $6.61 million. The fillings also reveal Bob Shanks, executive vice president and chief financial officer, earned $6.74 million in 2017, slightly more than the $6.29 million from 2016.

For a comparison, Fiat Chrysler’s boss Sergio Marchionne received nearly $12 million last year, a bit more than what he made a year earlier. In 2016, the highest paid executive in the Detroit Three was General Motors CEO, Mary Barra, who earned a total of $22.58 million.

Source: The Detroit Times

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