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Ford boss took home nearly $ 18 million in "challenging" years



His total annual payout included a base salary of $ 1.8 million and $ 12.7 million in stock awards, along with about $ 3.2 million in other compensation, according to public filing published Friday.

Hackett said in a recent conversation with investors that 2018 was a "challenging year" that was "full of headwinds." But

Ford [ F ) committed to spend $ 11 billion to transform his business, hoping to increase sales overseas and modernize his fleet by focusing more on electric and autonomous driving tech. Competitors including General Motors have announced similar plans.
Ford's conversion is expected to cost thousands of jobs worldwide. On Friday, the company announced that it will cut about 5,000 jobs in Germany through a "voluntary separation program" and through other plans. Ford told CNN Business that jobs would be cut in the UK, but the number of positions that will be affected has not yet decided.
  Ford is investigating fuel economy and emission testing
Hackett's compensation is 276 times greater than the median compensation for other Ford employees.

Ford praised Hackett's leadership in archiving and says he is "ready to lead the company's commitment to becoming the world's most trusted company, designing smart cars for a smart world that helps people move safely, safely and freely."

Few on Wall Street doubt that the company needs to shake things up.

Hackett became CEO of Ford in May 2017 in the midst of increasing financial pressure. Ford's share has risen more than 10% so far in 2018, but it's still below 40% compared to five years ago.

Ford director Bill Ford, grandson of the company's founder Henry Ford, has also pushed for the development of a new generation of electric and self-propelled cars.

Bill Ford was the second highest-compensated Ford leader last year with a total payout of $ 13.8 million.


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