GM will start tying executive compensation to electric vehicle targets
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Mary Barra is the General Motors Chairman and Chief Executive Officer. She spoke during an event hosted by Joe Biden, U.S. President, with CEOs from the private sector to discuss the Buildback Better agenda. This meeting took place at the White House, Washington, U.S.A. January 26, 2022.
Kevin Lamarque | Reuters
DETROIT – General MotorsMary Barra CEO, said Tuesday that the company will start to tie “significant” portions of its executive compensation with its electric vehicle goals.
Barra announced that starting this year the compensation targets include volume and launch times for EVs across North America.
“GM has had a long history of valuing the success of its employees as a driver for our compensation. Barra spoke at the company’s annual shareholder meeting. “And no one should doubt that our dedication to lead in EVs, or the passion of our team for that mission,” Barra declared. first-quarter earnings call.
Wall Street has increased pressure on Detroit’s automaker to switch to electric cars in light of its industry leader status. Tesla’sWith a market value of $900 billion, rise to the top-valued automobile manufacturer.
Barra stated that the company intends to use the new benchmarks in compensation to emphasize its commitment to EVs. Barra indicated that more information about the EV targets will be provided in Friday’s proxy filing.
Barra earned $23.7 million in 2020 as a total compensation package, which included stock awards and a base salary that was about $2million.
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