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Marchionne highest-paid Italian CEO in 2012

by Bill Cawthon on

Marchionne-Euros

Sergio Marchionne is well-known for not taking a salary from Chrysler Group but that doesn’t mean he’s hurting. Italian financial newspaper Il Sole 24 Oro reports Marchionne was the highest paid CEO in Italy last year with a total income of 47,901,000 euros, equal to more than $63 million.

The key to Marchionne’s financial windfall is that he is CEO of Fiat SpA, chairman of Fiat Industrial and an advisor to Exor, the Agnelli family’s holding company.

Marchionne’s cash income included $5,623,216 from Fiat SpA, $3,798,368 from Fiat Industrial and $52,627 from Exor for a total of $9,474,212. In addition, he received four million shares of Fiat SpA and four million shares of Fiat Industrial worth a total of $53,548,176 (all amounts are converted from euros at current market rates). The grand total, at current exchange rates is $63,022,388.

How does Marchioone’s compensation stack up against his American counterparts? He’s between Michael D. Fascitelli of Vornado Realty who, at $64.4 million, is No. 3 on the Forbes list of highest-paid CEOs, and No. 4 Michael Kinder of Kinder Morgan at $60.94 million. He’s well ahead of Ford CEO Alan Mulalley, who pulled in $12,775,000 last year and Dan Akerson at GM who had to make do with $11.1 million.

Bill Cawthon grew up in the auto industry in the 1950s. His Dad worked for Chrysler and Bill spent a number of Saturdays down on the plant floor at Dodge Main in Hamtramck. Bill is also the U.S. market correspondent for just-auto.com, a British auto industry publication, and a member of the Texas Auto Writers Association, which has named the Jeep Grand Cherokee the “SUV of Texas” several times and named the Ram 1500 as the “Truck of Texas” two years running.

Bill has owned five Plymouths (including the only 1962 “Texan”), one Dodge and one Chrysler and is still trying to figure out how to justify a Wrangler. He also has owned at least one of every 1:87 scale model of a Chrysler product. You can reach him directly at (206) 888-7324 or by using the form.


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