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FILE PHOTO: Jim Hackett, President and CEO of Ford Motor Company, speaks at the North American International Show in Detroit, Michigan, United States, January 14, 2019. REUTERS / Jonathan Ernst
DETROIT (Reuters) – Jim Hackett, chief executive officer of Ford Motor Co, earned $ 17.1 million in salaries, bonuses and shares in 2018, up from $ 16.3 million the year before, while the automaker's adjusted pre-tax profit fell $ 2.6 billion from 2017, the company said on Friday.
Hackett earned $ 17.7 million, including pensions and benefits. The company said Hackett, who took the lead for No. 2 US automaker in May 2017, received 276 times the median total compensation of all Ford employees, or $ 64,316.
Ford President Bill Ford earned $ 12.5 million in salaries, bonuses and shares. Including pensions and benefits, he earned $ 13.8 million.
The company reported pre-tax adjusted earnings of $ 7 billion in 2018 for 2018, down from $ 9.6 billion in 2017.
Ford is restructuring its global operations, including recent plans to cut spending in Europe. It has also announced an alliance in the commercial vehicle sector with the German company Volkswagen AG, with the aim of jointly developing electric vehicles and autonomous vehicles, with the goal of saving billions of dollars in savings. .
In January, Ford, the No. 2 US automaker, posted lower operating profit in the fourth quarter, losses recorded in all regions of the world, with the exception of North America , having weighed on the results.
In an email to employees on Jan. 24, after publishing the results, Hackett told the company that his employees would not accept last year's "poor" results, indicating that Ford was aiming to almost double its annual operating profit. He did not provide any delay to reach this target.
Hackett told employees in this e-mail "that it's time to bury (2018) … in a deep grave".
Nick Carey report; Edited by Chizu Nomiyama and Bill Trott
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