GM CEO Dan Akerson got a big raise in 2011.
General Motors chairman and CEO Dan Akerson took home $7.7 million in total compensation last year, representing a hefty pay raise over the year prior.
According to a GM filing, Akerson's 2011 compensation was comprised of a base salary of $1.7 million and stock awards totaling about $5.95 million. Akerson was paid a total of $2.53 million in 2010, although the executive was only on the job for about four months.
The U.S. Treasury Department - which still owns a 31.9 percent stake in the automaker - said in its own filing that Akerson's pay "remains below the 25th percentile for executives in comparable positions" because of the Treasury's limits, "despite his significant contributions to operating performance and outstanding leadership." The Treasury, according to Automotive News, will freeze Akerson's pay for 2012.
Akerson helped GM to a $7.6 billion full-year profit in 2011.
Although Akerson's pay more than tripled between 2010 and 2011, the GM CEO still trails other chief executives around the industry. In comparison, Ford CEO Alan Mulally pocketed $29.5 million in 2011, an increase of 11 percent over his pay in 2010.