Edward Whitacre Jr. Chairman and Chief Executive of Generate Motors Co., was compensated for his position with a yearly recompense of $9 million in both cash and stock. The current administration brought Whitacre in during the summer of 2009 to help sort through the company’s bankruptcy and reorganization.
Whitacre, whose salary is 1.7 million, became the company’s permanent CEO a last month after serving as chairman and CEO at AT&T Inc. The additional compensation Whitacre will receive comes is divided between $5.3 million in stock that he will receive beginning in 2012 and $2 million beneath a GM incentive plan that began in 2009.
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